How Anandia Labs Reduced the Growing Pains of Managing Purchases in the Cannabis Industry Through Procurify

Cannabis is a growing industry with millions of dollars of VC funding being pumped yearly into new ventures. Smart businesses are implementing good spend cultures by having the foresight to prepare for the hyper-growth stage that will take their companies to greater highs, such as seeking a software solution like Procurify to manage their service spend and purchasing process to grow more effectively.

“As we were growing, we needed more process in place. You need to make sure that you are growing effectively and efficiently from a finance and controls perspective.“ - Kirsten Tompkins, VP Finance, Anandia Labs

Anandia Laboratories Inc. is a leading Vancouver-based cannabis biotechnology and testing company that just closed a private-placement financing round of $13.4 MM in January of 2018. Being one of the fast growing cannabis companies in Canada, Anandia’s team wanted to introduce a process to avoid the growing pains of being a high-growth startup, as increasing supplies and materials were needed to keep up with their operations. In addition, as their team expanded, they wanted a streamlined, accessible, yet robust process to allow employees to easily request purchases and have said purchases be approved by the proper people.

Ms. Tompkins had the foresight to also understand the benefits of having an audit trail and a scalable system of record for company purchases and sought out a solution.

“To prepare for rapid expansion, we wanted to make sure that we had a more robust audit trail from a system that enabled the business to have proper documentation as we grow,” Tompkins adds.

Anandia Labs decided to partner with Procurify due to its user-friendly interface, as well as the fact that it started in Vancouver and had grown its user base to hundreds of countries across the world.

“From a purchasing and procurement perspective, it’s been working great. The employees find that inputting requests is simple and easy. I get an email notification right away, and so do they. When it comes to purchasing, Procurify is fantastic.” - Alexandra Coleman, Accountant, Anandia Labs

“We are honored to be a part of the journey of growth for forward-thinking companies such as Anandia Labs that have chosen to partner with us, by having the courage to constantly innovate and find better ways to manage company spending. We are witnessing a massive shift wherein companies are finally realizing the enormous value in creating a better Spend Culture across their teams. As a growing company ourselves, we cannot wait to welcome the partners that are seeking a better way,” says Aman Mann, CEO, Procurify.

Procurify supports cannabis companies throughout North America to make their business operations more manageable. The platform has helped cannabis companies track their budgets, remove manual processes and provide better insight into spending allocation.

Learn more about how Procurify can help your cannabis business here or at www.procurify.com.