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Cannabis compliance is complicated. It’s constantly evolving, too, which makes it easy for business operators like you to make mistakes.
Unfortunately, no matter how well-intentioned your team is, a single mistake could result in catastrophic repercussions for your business.
Some repercussions could include:
Any of the above could result in more than just fees and penalties. Your business could also incur irreparable reputational harm that could permanently damage your ability to serve customers.
The only way to prevent this is to stay on top of the changing federal and state regulations and ensure your business is compliant. It’s easier said than done, but not impossible. And in the current regulatory landscape, it’s absolutely necessary.
In this article, we’ll examine three methods for cannabis compliance. We’ll go over the ins and outs of each so you can determine which method is best for your business. Keep reading to learn more.
Here are three options for remaining compliant in the CBD, cannabis, hemp, and nutraceutical industries.
This traditional, reliable method involves hiring a legal professional who specializes in compliance consulting for cannabis businesses.
Legal professionals understand the complexities of regulation. They know how to help you avoid costly mistakes, but their services come with a high price tag. This puts them out of reach for a vast majority of smaller operators.
You can hire specialists to conduct annual reviews of your messaging and labels, which would make it an infrequent expense.
This option would leave your business vulnerable to changes in federal or state regulations. Anytime the federal, state, or local government adjusts the rules, your business could be at risk. Unfortunately, this happens more often than you might think.
This option also doesn’t cover any website copy adjustments, label changes, new product launches, or social media activity that occur between each consultation, which leaves an uncomfortable amount of room for error.
Truthfully, there are a lot of downsides to the traditional compliance consultant method. Until recently it was the best option for cannabis businesses. It’s a good option for multi-state operators and large enterprises, but smaller businesses could struggle to afford the support needed to really provide security and ensure quality for their customers.
Smaller businesses could consider training themselves or their team members in compliance monitoring. This option is more affordable, but it still involves a significant upfront money and time investment.
Additionally, those who opt to learn about cannabis and hemp compliance will have to update their skills and knowledge as new information becomes available. They will also have to continually monitor new packages, labels, social media posts, and webpages to ensure none of the company’s messaging is non-compliant.
Ultimately, this is a decent option for smaller businesses, but it’s not ideal. It’s also not suggested for mid-to-large operators, as the workload would far outweigh the cost savings.
Advances in technology are making compliance monitoring more effective and accessible than ever before.
There are many compliance management software companies currently offering their services to the cannabis industry. But none of them supply the diverse suite of tools and functionalities that Qredible® does.
Qredible provides compliance management tools for high-risk products and so much more. It is the best of a few different worlds: compliance software, consumer-facing digital registry, reviewing platform, and more.
When you become a Qredible pro, you will receive a comprehensive report on your business’s existing digital platform, including compliance rating, reviews, and brand history. For as long as you are in Qredible, we will actively monitor your messaging to ensure that you are notified the instant you become non-compliant in any way.
And the best part: pro subscriptions are available for less than the cost of a latte a day.
Here’s a little overview.
Using our compliance software, you can:
This CBD compliance software can actually lower your cost of compliance. You enjoy safer commerce with AI-powered, blockchain-enforced compliance software that is more affordable, accessible, and effective than other methods of remaining compliant. This makes it the ideal solution for highly regulated businesses of all sizes.
Qredible does more than just offer you the most advanced CBD and hemp compliance software available. We also have a unique set of tools and features that are designed to help you protect your brand and grow your business.
In Qredible, you can:
Qredible is the world’s first enterprise product compliance management and supply chain automation ecosystem purpose-built for highly regulated industries. We’re on a mission to make CBD, cannabis, hemp, and nutraceutical commerce safer for everyone. If you want to get on board, contact us to schedule a free, no-obligation discussion.
