GrowFlow, a business management and compliance solution for cannabis wholesalers and retailers, today announced the launch of GrowFlow Insights, a powerful and easy-to-use analytics tool that provides comprehensive and actionable cannabis data and market intelligence to enable GrowFlow customers to run a smarter operation from seed-to-sale. This new product will provide the business intelligence needed for a company to grow.
Tracking, cleaning, organizing, and analyzing data is a manual and time-consuming process but also a crucial one for organizations that want to harness said data and use it to identify new opportunities, smarter business moves, more efficient operations, higher profits, and happier customers. Developed for both cannabis wholesalers and retailers, GrowFlow’s comprehensive Insights product will allow customers to use unique operational and business insights from right within their own data to make the best decisions to grow their business and revenue.
Insights tracks data, automates business intelligence, and allows users to answer important questions about business growth levers without creating and maintaining unwieldy spreadsheets. Users can also filter and cross-filter many areas of business – including sales, inventory, orders, and customers – to better understand how different parts of the business intersect and impact one another. Some key benefits and features of Insights include:
- Easily track key metrics for your wholesale or retail business, such as top products, top selling brands, best salespeople, best hours to open, and more
- Quickly toggle between available licenses (wholesale and retail)
- Have real-time access to updated sales and inventory data across different areas of a business
“Cannabis businesses are evolving and their needs now go far beyond compliance efforts, focused increasingly on accelerating and growing their business. We heard from our customers that manual data tracking was a near-constant pain point, so our goal with Insights was to give businesses access to comprehensive business intelligence in a simple tool right at their fingertips,” said Travis Steffen, CEO of GrowFlow. “The addition of Insights to GrowFlow’s suite of solutions further enables GrowFlow to create a truly holistic solution for all of a company’s needs, whether it’s a B2B marketplace or wholesale or retail operation. We’re committed to being their partners in growth.”
“Insights helped us to understand how our store and business were really doing based on raw data. Being able to see snapshots of how certain categories or suppliers were performing with just a few clicks was a huge win and really opened our eyes on what’s helping the business versus what’s hurting it,” said Chris Ray, Owner at The Tree House. “Specifically, we were hesitant about opening our store at 8:00 a.m. during the week but, thanks to Insights, we were able to see that our customers do show up at that time and how much their average transaction was after just a few weeks of data. Insights is a huge plus for anyone wanting to make their cannabis reporting and information easier to understand and explain.”
Insights is live in all states where GrowFlow is available. GrowFlow is already used by over 1,200 cannabis cultivators, processors, distributors, and retailers and has processed transactions worth more than $2 billion. Its platform integrates with state systems such as Metrc and LeafData, and with other cannabis platforms such as SpringBig, dutchie and Jane.