What the Viridian Acquisition and SAP Certification Means for Akerna

Enterprise useful resource platform (ERP) options are used to hold out the core processes wanted to run an organization — finance, manufacturing, HR, provide chain, companies, and procurement, amongst others. Trendy ERPs use superior applied sciences, corresponding to machine studying and synthetic intelligence to supply effectivity throughout each side of a enterprise.

With the fast progress of the hashish business, the demand for best-in-class ERP software program available in the market is growing.

Akerna Corp. (NASDAQ:KERN), the cannabis business’s first seed-to-sale ERP, has all the time been the primary at each stage for a hashish software program firm — from itemizing on Nasdaq to now being the one cannabis-compliant SAP Enterprise One providing.

This comes after the current acquisition of Viridian Sciences, a fully-integrated hashish ERP system constructed on SAP Enterprise One.

The acquisition springboards Akerna’s enterprise mannequin, solidifying its house as the primary and solely true ERP software program resolution particularly constructed for the hashish business, serving hashish operators sized from startup to multistate operators (MSOs).

The SAP Resolution for Hashish

In February 2021, Akerna introduced that the platform had acquired the SAP Certification in integration with SAP NetWeaver. With this SAP-certified integration, Akerna might present its purchasers with in-depth ledger info that helps it stand out from different seed-to-sale software program suppliers.

The current SAP Enterprise One providing strengthens Akerna’s channel connections with present ERP suppliers with top-of-the-line capabilities.

Main enterprise organizations throughout industries select SAP Enterprise One for its capacity to automate key monetary enterprise capabilities — stock administration, automated compliance, enterprise intelligence, distinctive monitoring, reporting, fundamental and edibles processing, distribution, distribution and public cloud (AWS).

That is excellent news for any hashish firm trying to scale alongside the quickly increasing business that should leverage the proper instruments to take action.

“Hashish firms trying to scale alongside the quickly increasing business should leverage the proper instruments to take action, and our mixed ERP options are important to that,” stated Jessica Billingsley, Akerna CEO. “By combining Viridian’s Enterprise One options with Akerna’s compliance and ecosystem, we proceed to strengthen our channel connections with present ERP suppliers and firmly solidify our strategic moat as the one scaled hashish compliance and know-how supplier for the hashish companies of as we speak and the post-legalized world.”

Picture: Akerna

Favorable Political Local weather

With extra states legalizing marijuana and a supportive new authorities, an finish to the federal and state battle is extra seemingly now than ever.

In March, Representatives Ed Perlmutter and Steve Daines, amongst others, reintroduced The Safe and Honest Enforcement (SAFE) Banking Act. The laws would normalize banking for the authorized marijuana business, which nearly solely operates in money due to its lack of entry to monetary establishments.

With federal legalization on the horizon and Congress reintroducing The SAFE Act, you may count on a rise in laws. And, elevated laws necessitates the necessity for accelerated adoption of know-how options.

For Akerna, federal legalization might dramatically increase the addressable market and speed up its progress — positioning itself because the potential main hashish enterprise for the authorized world.

Akerna’s strong portfolio consists of MJ Freeway, Leaf Knowledge Techniques, Ample Organics, Trellis, Solo Sciences, Final Name Analytics and now, Viridian Sciences. With over 80 integrations {and professional} companies groups, this makes Akerna the hashish business’s solely scaled know-how supplier, enabling compliance, regulation and taxation.

Viridian Sciences Funding Highlights

  • $3.5 million in 2020 Software program as a Service (SaaS) revenue
  • Acquisition value of $6 million in inventory (1.7 occasions 2020 SaaS income)
  • Over 70% in software program margins
  • Greatest hashish ERP constructed on SAP Enterprise One
  • Viridian’s proficient group of 24 workers
  • Portfolio of over 30 purchasers together with Wana, Trulieve, Herbl and Canndescent 
  • Constructive cashflow contributor
  • Second COVID-19 acquisition after Trellis, a cultivation administration and compliance software program firm in April 2020 at 1.8 occasions income

You may study extra about Akerna by visiting its web site right here.

 

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