California-based Accela, which provides cloud-based solutions for government, has launched its new hemp licensing solution.
The new hemp licensing solution is an extension of the company’s Cannabis Regulation Application, which is part of its suite of agile SaaS solutions focused on helping local and state governments meet emerging regulatory challenges.
The product will allow government agencies to streamline the complex and dynamic hemp regulatory process to ensure compliance with new federal standards and meet unprecedented market demand, the company said in a statement.
“State and local governments are on the front lines in tackling today’s largest emerging regulatory issues,” Gary Kovacs, the CEO of Accela, said in a statement, adding that, “As the industry leader in licensing, permitting, and regulatory solutions, Accela has been at the forefront of best practices in the cannabis space for years. We are now committed to ensuring states have the tools they need to adapt and efficiently operationalize the growing hemp market.”
The hemp industry is expected to reach $10.6 billion by 2025.
“Given that hemp is controlled differently than other species of cannabis, cities and states need a purpose-built solution with advanced functionality to effectively navigate this new era of regulation,” noted Greg Felix, vice president of strategic solutions at Accela.