Tilray Inc. has joined ERP Acumatica Cloud to achieve its aspirations: to become the world’s largest cannabis agency as the Cannabis business is expanding in more than one way.

The Motley fool, in an article claims that marijuana revenues worldwide is expected to reach $ 16.9 billion in 2019 and continue to grow in the next few years. On the surface, cannabis and ERP cloud solutions are somewhat unusual, but members of a growing cannabis company recognize the importance of creating a link between them.

Tilray CIO Cuba Flowers shares his experience with Acumatica Business Software and explains why they are committed to growing their business on an open and flexible ERP Acumatica platform — for cannabis groups such as Tilray Inc., having an ERP cloud solution that is rapidly evolving to meet business management needs has been and is still essential for success.

Acumatica Cloud ERP Enhanced Growth for Tilray

Tilray is an undisputed leader when it comes to cannabis research, cultivation, processing and distribution. It went public in 2018, prior to which it was a subsidiary of Privateer Holdings. The company operates in Canada, the US and other countries across the globe. Aspiring to be the world’s most dependable cannabis company, Tilray emphatically states on their website, “We are the first GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments and researchers on five continents.”

In a Diginomica article published in December 2018, Cuba reported that the IPO of his company went extremely well and that the legalization of cannabis in Canada boosted growth for his company. So much so, that Tilray plans to add considerably to their existing workforce. Compared to 2017, there will be additional 750 employees by 2019.

A very active cannabis market, combined with the complex nature of business (three major production centers and six different entities, including sales offices and more), meant that Tilray required an agile and flexible Cloud Erp. They considered all their options, including NetSuite and SAP. After analyzing the numbers and reviewing the capabilities of each ERP, Acumatica Cloud ERP was eventually selected.

A satisfied Cuba opines, “Our global business, with a fairly complicated multinational financial structure, is getting handled in Acumatica from consolidation, multiple ledgers, multiple currencies to the production and the manufacturing, all of that for a very good price compared to competitors.” Developing custom cannabis software was not really an option for Tilray since the process is time consuming, and that would mean halting growth for the company. Therefore, they focused on finding the best, out-of-the box solutions.

The company implemented Acumatica Manufacturing Edition and Acumatica Financial Management along with cannabis business management solution, depending on smooth integration with third party applications. Acumatica’s cloud ERP acts as a single repository of data for the company that is easily accessible. This accounts for the success of the company. Moreover, Tilray team has benefited immensely from Acumatica’s flexible platform, open API and excellent customer service.

Tilray Regards Acumatica Cloud ERP as an Excellent Partner

Acumatica has created a consistent and agile business environment for Tilray. While Acumatica has successfully addressed Tilray’s unique needs, including tracking their “seed to sale” process within the cloud ERP environment, the software company is continuously working towards answering Tilray’s agricultural needs. However, Cuba is confident to find a solution through its association with Acumatica, citing Acumatica customer service as one of the main reasons for collaborating with the ace cloud ERP Company.

Affordability is noted as one of the many benefits of using agile and flexible cloud ERP solution as Acumatica. Other advantages are:

• Hassle-free, smooth integration
• Extremely responsive customer support
• Operational insights for quality decision making
• State-of-the-art technology that grows along with the company

If you are in the cannabis business, Acumatica’s flexible financial management software, manufacturing software, and cannabis business management software can help you streamline every aspect of your business. From following inventory to meeting with compliance, including order tracking and fulfillment, Acumatica is a one-stop solution. Contact team ASC to learn more about Acumatica integrated business management applications.

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