As with any industry, cannabis dispensary operators need to be on top of many things to ensure the health of their business. One area is adopting the latest innovations in retail tech — for example, dispensary point-of-sale (POS) software that’s designed specifically for cannabis dispensaries. Not only will such a system help run the operation more efficiently, but it will also allow for smart growth and timely reactions to the ever-changing demands of the cannabis industry.
Keeps the House in Order
POS software properly designed for a dispensary understands the life cycle of cannabis inventory. That means it will track the journey of an eighth of flowers, for example, from labeling and weighing to stocking and ultimately to the point of sale. Every transaction is processed and updated inside the system in real-time so customers always see the most accurate menu, whether they’re in-store or viewing online. Your POS software has to be reliable and accurate when processing incoming cash flow so everything is accounted for at the end of the day. Reconciliation is a big part of staying compliant and organized. Each state has different inventory reporting requirements. For example, in California physical reconciliation of inventory with POS database is required at least once every thirty (30) days but of course, retailers may be doing different types of inventory counts throughout the week. A dispensary POS software platform should allow for full control for inventory counts to be performed. In addition, with massive amounts of data being created with each transaction, record keeping and data utilization are an important function to have in the dispensary POS software. For more details on inventory reconciliation check out this support article.
Gathers Data That’s Actually Useful
What good is data if it’s siloed and difficult to understand? POS software designed for a cannabis dispensary needs to make data actionable. From a dashboard perspective dispensary POS software has to expose data that is useful for the business, and make easily digestible reports available on-demand. This improves marketing efforts and user experience among customers while taking the stress out of compliance reporting.
Facilitates the Highest Quality User Experience
Dispensary POS software is built for the modern retail interaction, meaning it can be set up on a tablet for use by both employees and customers. It can also extend to the virtual world so customers can find out what’s available or what kind of deals might be happening before ever setting foot inside the store. And when customers do arrive and check in, their membership profile is instantly available to budtenders and other employees. At times when the shop is crowded, customers can even create their own orders on a tablet to make the sales process smoother and keep the lines moving. These kinds of positive experiences create loyal customers.
Eliminates Wasteful Marketing Campaigns
With Dispensary POS software, you can run effective marketing campaigns because the platform knows every customers’ buying habits. Customer interactions will be more intimate and tailored because the budtender can see what the person likes to buy. This not only maximizes sales potential but also creates a clear picture of product popularity or unpopularity. It also allows for loyalty programs that are a surefire way to retain and attract customers.
Gives Operators Compliance Relief
Dispensary POS software should seamlessly sync up with the track-and-trace reporting system wherever the dispensary is located, and if it doesn’t then it wasn’t designed by people in the cannabis industry for people in the cannabis industry. Compliance is the difference between staying in business or getting shut down. POS software must be able to create all the required reports and manifests and transmit them without any delay or potential for error. Our easy integration with Metrc makes staying compliant easy.
Learn more about the BLAZE platform.