BioTrack: The State Traceability System vs. The Commercial System
May 17, 2022
The State Traceability System vs. The Commercial System
As one of the fastest-growing industries in the United States, cannabis poses a challenge for lawmakers and operators alike. Still in its infancy, the cannabis industry has strict rules and regulations that are constantly in flux and differ from state to state. Most states have adopted what is known as a state traceability system that is mandatory for all licensees to use. And while this software ensures your compliance with state laws, it doesn’t automatically keep track of key data points or help you grow your company. This is why investing in a commercial system should be a priority for every cannabis business.
Using the right commercial software is the most effective way for operators to run an efficient and successful company. BioTrack’s commercial system not only automates the reporting process to the state traceability system, but also offers industry-leading business solutions. Our commercial system is compliant with each state’s requirements and integrates with all state traceability systems currently in operation.
How BioTrack’s State Traceability System Works
The purpose of a state traceability system is to allow state governments and regulators to track and monitor each marijuana plant from the early stages of cultivation until the point it is purchased. The seed-to-sale software collects and analyzes compliance data, reporting the necessary information to state officials. States utilize this software for many reasons, including:
• Prevent diversion to the black market
• Determine how much tax revenue to collect
• Facilitate product recalls
Currently, there are 11 states that use BioTrack’s track and trace software. In these respective states, it’s mandatory for every cannabis business to report specific data points to the state traceability system.
While our state traceability system allows you to remain compliant, it isn’t a business tool. This is where our commercial software enters.
How BioTrack’s Commercial Software Works
Most states don’t require cannabis businesses to utilize commercial software, so it’s up to each company to decide what system—if any—they use. Biotrack’s commercial system is designed to pair well with any state traceability system, and works especially well paired with our own. This is because our two systems fully integrate, streamlining the compliance, reporting, and management processes.
BioTrack’s commercial solution is a business platform designed to help operators run a more productive and profitable enterprise. It provides management tools for products and inventory and provides robust data insights. Some benefits of our software include:
• Integration with hardware equipment to reduce human error.
• A dispensary point-of-sale system.
• Patient and customer loyalty management.
• Various pricing tools to run discounts and specials.
• In-depth reporting for business analysis.
• The ability to perform actions on multiple plants simultaneously.
The Benefits of BioTrack’s Commercial System
With over a decade of experience in the cannabis industry, BioTrack has developed the preeminent software to help you run the most successful business possible. Our commercial system is currently used in 38 states and 10 countries, and has processed over $20B in sales.
Whether you are cultivating, processing, dispensing, or running a vertically integrated operation, our commercial software is designed to help you run and scale your business. The BioTrack system tracks yields, harvests, and conversions, and even provides strain notes for patient and customer education.
BiotTrack’s business intelligence features help you to answer questions like: What are my best-selling products? What are the top-yielding plants? Who are my top-selling budtenders?
If you want to grow your company, you need data that you can analyze and turn into actionable results. BioTrack provides granular data at every stage of the seed-to-sale cycle and for all license types.
While the budding cannabis industry offers the potential for great growth and success, navigating the ever-changing rules and regulations is a difficult feat. It’s hard to predict what your business will need in just a few months—let alone a few years. But with a commercial system that’s as flexible and customizable as ours, you and your company will be prepared for anything the future may hold.
BioTrack’s commercial system fully integrates with our state traceability system, helps with inventory management, provides in-depth business reporting, and more. You don’t have to get bogged down with compliance and efficiency issues, and can instead focus on the bigger picture, ensuring that your enterprise thrives.