Securing systems in the evolving cannabis industry

The cannabis industry is continuously evolving with governments legalizing medical and recreational cannabis. Get your copy of the security system checklist to review some key security considerations so you can stay ahead.

The legalization of cannabis continues to grow throughout North America. It’s important to understand the differences in compliance and security measures for private or government-owned facilities. The industry continues to evolve at a rapid pace, so businesses need to keep up and be able to adapt their operations when there are new security rules. When it was exclusively a black-market crop, the relationship between supply and demand was almost predictable.

Now, it’s become vital that cannabis businesses be proactive in their security measures. Because they market a high-value product in a cash-intensive environment, these are incredibly attractive targets for criminals. There are a few key considerations to keep in mind to stay on top of securing cannabis dispensaries and operations.

 

 

The impact of industry growth

As governments shift and their policies adjust accordingly, many organizations will be moving into new markets. Whether merging with other operations or acquiring new businesses, this means an increase in production to capitalize on financial opportunities.

Success in this new era depends on careful planning as cultivators and retailers face new challenges. Many will be trying to balance maximizing operational efficiency, and managing compliance while protecting customer data.

Now is a good time to be asking if your organization is ready to meet these grow-op security challenges.

Are your operations able to grow?

If acquiring smaller cannabis businesses is part of your growth strategy, maintaining a consistent workflow becomes increasingly important. Acquiring other growing operations means inheriting new security technology. As your business expands, you have the choice to streamline operations for your existing system, or select a new system that scales as you grow.

Choosing the right physical security system for your business can be tough. If you’re looking to scale, consider a unified security system that enables a centralized view and evolves with you. 

Consider how changing regulations can be influential

Rest assured, this isn’t only new territory for cultivators and retailers. Governments are also adjusting to the changing realities of the legal cannabis market. Part of legalization involves establishing policies and regulations for the various levels of production and distribution.

One of the main goals for governments is regulating the safety of cultivation while tracking sales processes—on top of securing the industry.

With the rapid expansion of the cannabis industry, the regulations themselves are evolving. Quebec, for example, has raised the legal age for recreational cannabis consumption from the national limit of 19 to 21. And more changes are bound to come.

In the US, because each state government makes its own rules and regulations, this causes fragmentation in the industry and added difficulty to keep up with compliance. The industry overall has matured and the transition from medical to recreational markets has accelerated. More than three-quarters (77%) of the US population now resides in a state that legalized cannabis.

The challenges of ensuring compliance

As governments are setting their own policies, expanding into new markets in different countries or regions means complying with different sets of laws and regulations. How can you make sure that you’re able to comply?

One way to ensure compliance is by bringing more automation to your regulatory practices to protect your cannabis license.

A cannabis security solution that automates reporting and allows you to easily create standard operating procedures (SOPs) can help. This will allow you to reduce human error and demonstrate compliance, even as policies and regulations evolve.

Privacy remains vital

Finally, while cannabis may be legal in some jurisdictions, it remains illegal in others. This means that privacy is still a vital concern. When personal data associated with cannabis consumption is illegally accessed, it can present real problems for individuals.

Even if a person lives where consumption is legal, they can still be denied access to where it is not. In some cases, border police can use data taken from retailers as evidence to deny individuals entry. Protecting personal data is essential for maintaining the trust of your customers.

For a comprehensive data security strategy, your system's data needs to be secured across your entire security environment. Working with a solution provider that specializes in cybersecurity can limit your exposure to hacking and help keep your data safe.

Staying competitive in the rapidly evolving cannabis industry means maximizing operational efficiency, managing compliance, and protecting customer data. By investing in a unified solution, effectively combine the IP security systems for all your facilities, in one platform. This means seed-to-sale tracking on all your products while maintaining control over every aspect of your physical operation.