Flourish Software CEO Reveals The Key To Being Relevant And Successful Post-Legalization

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Flourish Software joined a virtual discussion with three other cannabis tech companies to discuss the challenges and solutions to technology in the cannabis industry.

As an emerging industry, cannabis still has many innovations and changes on the horizon. And as a supply chain and software company, Flourish noticed the improvements that needed to be made. The company then took its background in supply chain analytics, process improvement, and traditional logistic operations to the cannabis industry.

In navigating some of the hurdles in cannabis as a newer industry, Flourish takes a quick action approach.

“We operate in a very agile method. So constant rapid innovation and constantly pushing out new features, updates and solutions because this industry is changing so quickly,” said CEO of Flourish Software Colton Griffin.

Adapting To Change

In a rapidly changing field like tech, staying ahead of those changes and adapting to them is essential (especially in cannabis). Griffin noted that when developing and employing an e-commerce solution all timelines are very compressed.

“So, its really cool because you have to adapt from traditional IT processes to be able to respond to these changes really quickly and I think that’s key to being successful in this space,” he said.

Griffin revealed integration as being key to their current product strategy, seeing the company as an ecosystem of a number of special solutions that are needed by their customers.

“I found that some tech companies in this space really take that [tech solutions] seriously and are really seeing an API and following good coding standards and making that easy,” he said. “I think those companies are really successful in the market because they are learning that they can drop in and quickly hook into an ecosystem that already exists and provide additional value and solve problems and play well with others.”

Cash To Card

Another necessary tech development discussed among the panel of entrepreneurs was the legalization of banking. Currently, exchanges within the cannabis industry are done solely through cash. And with the inevitable legalization of cannabis, leaders in the space are preparing for this transition.

“We just need to do it intelligently and thoughtfully and craft the right policies and procedures to roll out these operations across the country and interstate commerce will dramatically change the life of everybody,” said Griffin. “And I think that’s why we drill this into our customer base so much is that these systems and processes and the data-set and following best practices that industries around the world take advantage of and using tools and software to take advantage of is key to being relevant and successful long-term post-legalization.”

Photo by Esteban Lopez on Unsplash

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.