Cocannco’s joint venture with Parsl
What is Parsl?
Parsl is a logistics management company that uses an app to provide a solution for reliable cannabis inventory management, product authentication, direct consumer marketing, and compliance reporting.
Parsl has worked with dispensaries to create more reliable inventory tracking. They have also helped companies manage waste tracking to meet Environmental, Social, and Governance (ESG) standards and facilitate dispensary recycling initiatives.
Clearly California & Parsl
When Cocannco CEO Don Clark met the President of Parsl and learned what it could do, he saw its value not only to Clearly California (a target investment of Cocannco) but also to Cocannco itself.
This technology is more than just an inventory tracking system you can use from your phone. It integrates with state compliance software like Metrc, making compliance reporting easy. It reduces the need for manual inventory audits and creates more reliable data for financials. And with Parsl’s ability to track cannabis from seed to sale, they collect targeted data to help cannabis businesses market more effectively.
Parsl is working with Clearly California to refine its technology with cannabis manufacturers. This is a big deal because most inventory tracking in the cash business of cannabis is not very good. A reliable inventory tracking system solves the biggest problem that Clearly California has.
Plus, Clearly California customers can scan the product and see the lab results. By being able to track the product to the customer, Clearly California will be able to reach customers with highly targeted marketing.
Why Cocannco is excited about Parsl
We are working on a joint venture to bring more accountability to the cannabis industry. As Parsl shapes its software to bring more value to the cannabis industry, Cocannco plans to mandate the use of Parsl for all target investments.
Cocannco is a pilot program for tracking inventory, both numbers and dollars, for all companies that Cocannco invests in. By leveraging Parsl as an accounting tool, it can also serve as a way to reduce audits and audit costs. It’s an inventory tracking tool, lead generation tool, accounting tool, and accountability tool.
Ready to invest in cannabis?
Along with leveraging great tools like Parsl, Cocannco uses sound financial due diligence to identify and partner with companies and crowdfunding to provide the cash infusion they need to grow.
Ready to learn more about these investment opportunities with Cocannco?