WM Technology, best known as the software firm that works on solutions for the growing legal cannabis retail sector, announced that it was rebranding its software as a service (SaaS), offering WM Business as Weedmaps for Business.
Originally a B2B suite that was reliant on subscriptions, the rebranded entity is now an end-to-end service solution for both cannabis brands and individual retailers.
Unlike the original WM Business, Weedmaps for Business is a more integrated service. According to WM Technology CEO Chris Beals, this new iteration of his firm’s flagship offering meets the industry need for an omnibus tool suite that can assist both brands and retailers in reaching potential customers, converting those with doubts, and establishing a long-term clientele.
The revamped service also gives users insights and metrics generated throughout the procedural lifecycle.
A Full SaaS Suite
Thanks to several acquisitions WM Technology made before getting listed on the Nasdaq last year, the latest iteration of Weedmaps offers an extensive range of tools for clients’ use.
The suite comes with Sprout-developed CRM, advertising-specific tools WM Adsuite and WM Screens, WM Dispatch (previously known as Cannveya) for logistics, and WM Connectors (originally called CannCurrent) have been touted as a Zapier-type app for the cannabis sector.
Beals stated that the revamped tool suite results from several years’ worth of acquisitions, integrations, and shared feature development that he expects will result in a full platform for consumer lifecycle management.
Addressing Regulatory Restrictions
Another reason behind the reinvention of Weedmaps for Business lies in the stigma that has long prevented cannabis businesses from reaching their fullest potential.
Regulatory restrictions have long hampered their operations regarding advertising and marketing, payments, and delivery. In this case, businesses operating within the cannabis industry need specialized tools to comply with these regulatory measures in both the United States and Canada.
Integrated toolkits like Weedmaps are seen as a necessity for the cannabis industry owing to its unique nature. As Beals puts it, the field is severely regulated, but laws and regulations differ depending on the state, or even the city where a business is located. In this case, a centralized management platform offers the benefit of enabling developers like WM to create compliance solutions and have them leveraged compliantly throughout the tool suite.
Likewise, Beals sees how Weedmaps can help brands and retailers maximize their profits, as well as develop brand affinity which has long been beyond their reach.