Green Check (GC), a fintech provider in the cannabis market, recently announced a partnership with Order.co, a procurement platform. The partnership will help cannabis operators cut costs, save time, and improve procurement efficiency, according to the company.
The deal, which will see Order.co on the Green Check Connect Marketplace, comes at a pivotal time as many cannabis-related businesses (CRBs) are operating on limited margins.
Order.co currently serves thousands of cannabis businesses. Together with Green Check’s network of more than 7,000 cannabis businesses, the Order.co and Green Check partnership enables brands to save an average of 5% to 8% on purchasing through AI-powered strategic sourcing and network discounts, while accessing a network of over 15,000 reliable vendors without industry bias.
"By enabling access to Order.co's innovative procurement platform through Green Check Connect, we're empowering cannabis businesses with essential tools to optimize their purchasing and payments processes," said Kevin Hart, CEO and founder of Green Check.
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From sourcing products and scaling purchasing across locations to automating accounts payable and approvals workstreams, Order.co's spend efficiency platform equips businesses with tools to save time and money, and gain clarity into their expenditures.
"This partnership will help cannabis operators to scale their businesses while reducing the amount of time they spend on procurement and accounts payable by about 25%, if not more," said Zach Garippa, CEO and Founder of Order.co. "Businesses can also grow revenue by leveraging our financial products to invest in initiatives like stocking up on inventory during supplier promotions, purchasing heavy machinery, or opening a new location."
Additionally, the platform helps maintain purchasing compliance according to regulations with controlled catalogs and approval workflows, ensuring businesses operate within legal frameworks.
The collaboration also provides access to capital to grow with Order.co’s financial products, including extended net terms and capital advances.
