Picture an industry where state, local, and federal laws are continually in flux – and can vary dramatically as soon as you cross a governmental boundary. Where, as a result, you have a corporate structure that is built out of multiple legal entities, many of which have different ownership, may roll up into multiple different reporting groups and can seem to multiply ridiculously quickly as an organization grows.
Add in a seed-to-sale structure where arms-length transactions are common between cultivation, processing, and dispensary operations. Pile on acquisitions where multiple industry-specific inventory management systems may be in play, and various states may require different retail tracking systems, and you need a best in breed solution to pull all that data together and consolidate it if you want a solid, accurate picture of your overall operations.
Building your growing cannabis business on a financial platform that allows you to be flexible enough to adapt as regulations and systems change, but is also robust enough to provide you the ability to report across all your complex entity structures easily is one of the best investments you can make for your company. Need to report to a particular investor based on their ownership percentages? Or want to compare activity across all your dispensaries? How about review the entire operation at once? All doable – at your fingertips – with Sage Intacct.