IDIS Releases eBook to Help Integrators Enter Cannabis Market
The eBook is part of the company’s commitment to support its systems integrator partners secure new growth sectors.
COPPELL, Texas — IDIS America has published an educational eBook — “Understanding Video Tech Requirements for Cannabis Retail and Production” — following its success in the sector over the past two years.
The eBook is part of the company’s commitment to support its systems integrator partners secure new growth sectors, according to an announcement. The free resource is said to help integrators understand the risk and threat profile, as well as the security requirements placed upon this fast-growing and highly compliance-driven market.
The announcement cites the following details from a recent Nasdaq report: “In a year that saw record-breaking volatility, cannabis stocks were standout performers. The rapidly growing marijuana industry is beginning to mature in North America, and investors are finally getting a glimpse of what the green rush is capable of. As we move into a new year, growth shows little signs of slowing. In 2021, the 10 fastest-growing marijuana stocks are expected to deliver sales growth ranging from 60% on the low end to as much as 176% on the high end.”
New growth opportunities are especially ripe for systems integrators because a lack of regard to security measures can result in cannabis dispensaries and growers being slapped with penalties ranging from business shutdowns, revoked marijuana licenses, and criminal charges, the announcement states. The eBook outlines the varying security requirements that are being levied on cultivation sites, medicinal dispensaries, and retail outlets, helping make sense of some of the disparities from state to state.
Cannabis operators are already faced with high set up costs, continued investment in research and development, as well as the need to educate the public and promote the benefits of marijuana-based products that are funded by significant sales and marketing budgets.
The eBook is said to give security professionals insights into how to recommend video technology that offers immediate upfront savings, technology that not only meets regulatory compliance but also helps operators realize an immediate return on investment by deterring, and reducing crime and shrinkage at both cultivation sites and retail environments.
“Cannabis operators are challenged by a complex risk profile and regulatory compliance while still competing with organized gangs offering cheaper illegal products. In addition, the current lack of federal regulation means that retailers are unable to take payments through card payments that use banking systems,” says Jason Burrows, sales director for Western U.S., who is leading sales in the sector at IDIS America.
He continues, “To give customers easy access to cash, most dispensaries have installed ATMs. But this also makes them a target for crime. And while high profile robberies make headlines and damage customer confidence, it’s the insider threat that is most impacting the bottom line.”
To this point, it’s estimated that 90% of financial loss is due to employees stealing cash, product, and sweethearting in stores. Couple this with the fact that part-time staff is often transient and underpaid, making theft of product from cultivation sites equally prevalent.
The eBook also highlights the importance of cybersecurity for medical dispensaries that need to meet the Health Insurance Portability and Accountability Act (HIPAA) requirements. Additionally, they need to ensure secure access, transmission, and storage of data to protect the privacy of all customers.
To access the eBook, go here.
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