The cannabis industry as a whole continued to undergo seismic changes in 2019.
For example, licensed cannabis operators grew closer to getting better access to the financial services industry as the SAFE Banking Act works its way through Congress. Several states debated allowing recreational cannabis sales, with a big one — Illinois — authorizing a law to allow adult-use sales starting in 2020.
Like the rest of the industry, Simplifya grew and evolved in exciting ways as well. Here are our three biggest accomplishments in 2019!
New Features For the Cannabis Industry
Since January 2019, we’ve added several new features and tools to our platform to ease the compliance hurdles facing licensed cannabis operators and those servicing licensees in the industry.
Obtaining correct license data from the states with a legal medical and/or adult-use marketplace has always bedeviled ancillary companies, such as banks and insurers, looking to serve licensed cannabis operators. In addition, many state and local governments force licensed operators to verify they only buy cannabis from or sell it to businesses with valid licenses. Far too often, this information is difficult to secure from the various state agencies tasked with issuing cannabis licenses.
Simplifya Verified solves this conundrum! This easy-to-use online tool, now in a beta release, allows clients to independently check the status of cannabis licenses in 23 states! Additionally, we have personnel resources dedicated to regularly verifying and validating that the licensing information included in the Simplifya Verified database is current.
New features are important, but making compliance management easier for our current clients remained a key driving force at Simplifya in 2019.
Our dedicated software developers rolled out a new dashboard earlier this year. Among other improvements, the new dashboard improves the client experience by making it easier for clients to comprehensively review outstanding compliance tasks requiring attention. The new dashboard also makes it easier for clients with multiple locations to track their overall regulatory compliance status.
In addition, the dev team also worked across departments to roll out a new citations and definitions feature for Simplfya’s regulatory content. These additions will allow clients to geek out and research the statutes, ordinances, and regulations underpinning content on the Simplifya platform.
More Regulatory Content!
Speaking of content, Simplifya’s regulatory affairs team published audit content, standard operating procedures (SOPs), and smart cabinet descriptions for seven new states in 2019.
For those keeping track at home, we added, to date, regulatory content for Arkansas, Arizona, Florida, Illinois, New York, and North Dakota. And for all the Show-Me State fans out there, hold on to your seats because we’re set to cover Missouri by the end of the year!
Of course, the regulatory affairs team monitors all of the state and local regulations for jurisdictions we already cover. To that end, we’ve completed dozens of updates to our regulatory content in 2019, and are already digging into all of those end-of-year changes that go into effect January!
Last but not least, Simplifya brought on eight new employees in 2019. These hires bring a wealth of cannabis industry knowledge to our team.
In addition to their cannabis industry knowledge, we added several strategic hires with in-depth knowledge of communications and marketing, banking, public policy, and sales fields. These additions position Simplifya for a prosperous 2020!
Simplifya’s progress in easing regulatory compliance made several important strides in 2019. We know our there’s still a lot of work to do and we can’t wait to show you more in 2020!