As more states continue to legalize the sale of recreational marijuana, the need to track every purchase made grows tremendously. Achieving this level of supply chain visibility might seem like a pipe dream for many authorities. But thanks to Metrc track and trace software, governments can easily keep an eye on and regulate marijuana sellers.
Besides tracking transactions for the government, cannabusinesses can also integrate the Metrc software with other third-party software to help them easily manage their business operations. Read on as we walk you through three benefits you stand to gain when you integrate cannabis software with Metrc.
What Is Metrc?
Metrc is the short form for Marijuana Enforcement Tracking Reporting and Compliance. It is a service provided by Franwell and helps governments track the purchase and sale of marijuana in dispensaries. Before we go on, it’s crucial to understand that marijuana laws vary by country and by state. And therefore, different states have different regulations on compliance.
Many cannabis dispensaries are turning to cannabis software integration with Metrc to help them stay compliant. For example, by collecting and storing data at different stages of the cannabis supply chain, they can track transactions, keep records and help manage inventory.
But before settling on a software provider for your cannabis dispensary, you should check whether it integrates well with Metrc’s track and trace system.
Benefits of Integrating Cannabis Software With Metrc
Here are some of the advantages of integrating Metrc with other software:
Reporting Automation
You need to automate recurring business activities to have an easy time running your cannabusiness. Whether you’re enforcing state compliance or reporting for the same, you can make work easier by using seed-to-sale software. And before you can even think of making any reports, you need to integrate your software with Metrc.
This will take the load off your hands since sales details are automatically logged on to the Metrc. It also saves you time that would have been spent keying in the sales details manually.
Metrc uses a precise criterion to report marijuana sales and purchases. But for accurate reporting, every marijuana transaction must be properly recorded, and the dispensary owner must do so in time.
Some key details that should be keyed into the Metrc system through seed-to-sale software include:
- Time and date of the sale
- The unit used to measure the sale
- Amount of marijuana sold
- Amount of cash made from the sale.
It is crucial to submit these details within 24 hours from the transaction date to maintain compliance.
High-end Tracking and Tracing
The major goal of Metrc’s track and trace program is to keep tabs on marijuana manufacturing and distribution from seed to sale. This provides accountability for every gram of cannabis produced and sold. Therefore, integration with your regular seed-to-sale software allows you to track every purchase and provide information on customers’ purchases. It also allows governments to know how much marijuana has been bought and by whom.
During inspections, the law requires dispensary owners to provide this information. Thus, having them on file is extremely important. Moreover, you will only be able to discard the information after seven years.
You Can Easily Track Inventory
You need to keep an eye on your inventory to ensure that you’re on the right side of the law. The Bureau of Cannabis Control requires that you compare your inventory on Metrc with the last recorded entry every 14 days.
To easily do this mandate, you need to use the right inventory logging software. This will also make your stock reconciliation process a lot easier. This is because the inventory reports by Metrc help you count your product quantities quickly and easily.
What Kind of Cannabis Software Should You Integrate With Metrc?
It’s no doubt that third-party software can lighten the workload and save you time operating a dispensary. And since Metrc is just a reporting tool, you will need the help of reliable software to maintain compliance. When looking for cannabis software to integrate with Metrc, you should look out for the following features:
- Flexibility: The cannabis industry is undergoing unprecedented change due to the implementation of new compliance rules and regulations. It isn’t easy to foresee what you’ll require in six months, two years, or beyond. This is why you need seed-to-sale software that adjusts to your needs by analyzing marketing trends and creating customized reports with actionable steps to set you ahead of the competition.
- Record keeping: According to most state regulations, authorities could subject you to an audit of your dispensary records at any moment and without notice. But when you’re using a smart inventory system, you can seamlessly store and access all the data you need whenever you want.
- Purchase Limit Warnings: Your cannabis tracking software provider should be well-aware that compliance entails more than just keeping inventory records up to date. Based on this knowledge, it should build various alerts into its software. It automatically identifies events that could cause you to violate the rules. It should, for example, flag events such as when customers exceed their purchase limits. Thus, this will easily keep you within compliance regulations.
- Marketing: The cannabis market is a fast-growing industry. And the more your brand name gets out there, the more you grow. This is why you need software that is more than a seed-to-sale tracking assistant. It should help you engage with your customers and ensure that you get your brand’s message directly to them through a well-crafted marketing system.
The Bottom Line
The cannabis industry has tons of regulation hoops that you have to jump through to stay in the market. But your work can be made a lot easier when you integrate reliable cannabis software with Metrc. Besides automating your reporting, this advanced integration also gives you clearer product visibility along the supply chain and makes it easier for you to manage your inventory. It’s totally worth every penny of its price.
