The cannabis industry is undergoing rapid evolution and maturation, with businesses seeking ways to both survive and stand out in a crowded marketplace. A crucial factor in determining the success or failure of these businesses is the selection of the right technology vendor. Choosing the right partner is a critical process that demands careful consideration.

Businesses operating in this space are facing an increasing number of technology choices, whether it's seed-to-sale tracking solutions, compliance software, or customizable eQMS. 

Before you start vetting technology vendors, it's essential to clearly identify your business needs by taking a close look at your current processes, identifying pain points of the business such as your cost of quality, and determining what areas of the organization could benefit from tech solutions (if not, all of them!).

Aligning Objectives with Vendor Capabilities

As the only eQMS vendor serving the cannabis industry exclusively, C15 Solutions has developed a customized platform tailored for the industry through a team of dedicated SMEs with backgrounds in pharma, QA, finance, and retail. 

Our experience shows that cannabis companies seek vendors who can help their business…

• Stay compliant by providing a centralized platform for tracking and managing quality-related data
• Ensure consistent quality by providing a standardized process
• Streamline processes and improve efficiency by reducing the need for manual data entry
• Facilitate collaboration and communication between different teams and stakeholders
• Reduce errors and miscommunications
• Ensure that everyone is working towards the same quality goals
• Drive continuous improvement by providing a platform for tracking quality-related metrics, identifying trends and patterns, and implementing corrective actions when necessary

Take Vantage Hemp Co., for example. In 2021, the company sought out a partner to develop a customizable, cloud-based quality management system to automate and enforce processes and ensure the highest level of cGMP compliance.

Learn more in our case study.

How to Vet Tech Vendors and Find the Right Partner for Your Business

Now that you’ve identified your business needs, here are some tips on how to vet potential vendors:

Experience

It's essential to work with a vendor who has a proven track record of success in the cannabis industry - ask for case studies to evaluate the vendor's past performance.

For instance, C15 has grown from scratch to 65+ corporate customers across 8 countries, working with 60% of the top 10 cannabis companies.

Industry-Specific Knowledge

This aspect is crucial in the cannabis industry, where there are unique and ever-changing regulatory and compliance requirements that vendors must be aware of. Look for a tech vendor who understands the industry's intricacies and can help you navigate the regulatory landscape.

C15 is a global vendor that ensures customized regulatory compliance based on each customer's jurisdiction, future-proofing businesses for the evolution of the regulatory environment. 

Ongoing Technology Enhancements

Your business needs technology that is constantly evolving with the industry and can be customized to your specific needs. As your business grows, your technology needs will likely change so it's important to evaluate vendors not only on their current offerings but also on their ability to scale.

Read how C15 has amplified its eQMS platform to become a ‘business organizational tool’.

Customer Service and Maintenance Capabilities

Technology is never perfect, and it's essential to ensure your vendor has a support team that can quickly address issues. Additionally, check if they provide regular maintenance and updates to keep the technology up-to-date.

One of C15’s customers identifies the importance of a vendor’s customer success team, “I have been working with C15 for over a year in developing our custom, cloud-based QMS system. They are very responsive to my needs and are quick to develop.”

Industry Reputation

Request references from existing customers and partners to evaluate their track record and reputation in the market.

Hear what our customers are saying about us.

Quality of Products and Services

The quality of products and services provided by a vendor can have a direct impact on your business operations. It is essential to ensure that your vendor's quality standards align with your business to avoid any negative impact on your reputation or lost business opportunities.

Cost Savings

One way to reduce your cost of quality is to work with vendors who value quality. At C15, we have developed a solution that can help companies reduce their cost of quality by 30-40%.

Check out C15’s exclusive with Benzinga on how to save 30% of your top-line revenue.

Strategic Alignment

Choose a vendor that aligns with your strategic goals. If your business prioritizes a 'culture of quality,' working with vendors who are dedicated to reducing the cost of quality can help you achieve your goals.

Risk Mitigation

By thoroughly vetting potential vendors, businesses can identify potential risks and take steps to mitigate them. It is crucial to look for vendors with a strong track record of regulatory compliance.