Cannabis businesses need to navigate many facets of their operations. Choosing the right dispensary software can help improve productivity and profitability over time. Cash automation capabilities help focus on operational efficiencies, bolster inventory management, and systemically ensure process compliance. One dispensary that incorporated the feature reduced time-consuming counts by 90%.
Ease of Use
A cannabis business needs user-friendly and intuitive software to make it easy for employees to use. Point-of-sale (POS) systems are crucial for cannabis companies because they provide up-to-date data on customer behaviors and sales trends to keep companies competitive and profitable. The system also helps to ensure compliance with local laws and regulations by automating record-keeping tasks such as age verification requirements, type of product sold per transaction, taxes paid, and more. The POS system should also allow you to track inventory in real-time and limit customer orders when stock is low. A POS that offers an order ahead feature can save you minutes per transaction by eliminating the need to have customers wait while you go to the secure room and gather their purchases. Some POS systems also include CRM capabilities to help you build your customer profile and better serve them. If you are looking for a comprehensive cannabis software solution, consider an enterprise resource planning (ERP) system. These tools do everything a seed-to-sale software company does but also incorporate processes like supply chain management, cannabis accounting, risk management, regulatory compliance, project management, and financial forecasting. They may cost more than a seed-to-sale system but are essential to building the perfect tech stack for your operation. You can find cannabis-specific ERP solutions through online searches and industry directories or by talking to vendors at trade shows.
Integrations
When selecting software for your cannabis business, integrations should be a top priority. They will help streamline your operations by combining various programs and using critical data from one program to power another. This way, you can save valuable time and effort while increasing profitability. One of the dispensary software benefits is it streamlines inventory management, enhances customer service through quick and accurate transactions, and improves overall operational efficiency in the cannabis industry. Cannabis business software integrations will allow you to manage your inventory, sales, and accounting processes from a single platform. The more streamlined these processes are, the easier it will be to scale your business and meet growth goals. Some crucial cannabis business software integrations include point-of-sale (POS) systems, grow management platforms, and customer relationship management (CRM). A POS system will enable you to track your sales across both physical locations and online and will also allow you to keep tabs on inventory. This is a great way to ensure enough products for your retail and cultivation operations. It will also help you identify problems with plants or products and will allow you to automate compliance reporting. A POS system will also make invoices and collect payments from your customers easily. This will save you a significant amount of time and will help your business stay tax-compliant. Additionally, many POS systems will include features that will help you remain compliant with state regulations.
Inventory Management
A sound point-of-sale system allows cannabis businesses to track inventory across multiple channels, fulfill orders, and provide real-time data to save money and put their efforts toward the products their customers love. Look for a system that offers features like bulk editing and mass product adjustments to simplify day-to-day operations and one with a high uptime rate to ensure you can access the compliance information you need when needed.
A targeted quality management software solution automates recurring processes that can slow down production and lead to bottlenecks, which makes it easier for cannabis operators to meet deadlines and stay compliant with regulations. Quality management systems also help cannabis businesses make better strategic decisions by giving them insight into their organizational performance through reporting and analytics capabilities.
Many cannabis technology companies offer tools for the entire seed-to-sale process, including POS solutions, wholesale marketplaces for retailers, online menus with price comparisons for consumers, and delivery fulfillment services that do the work to get the product to the customer. Look for a company with experience in the industry and a solid reputation, which can be found by asking around at trade shows or checking out marijuana business directories and publications. Ideally, you want to find a vendor willing to connect you with a current customer who can answer questions about their experiences.
Reporting
As a business owner, you need to be able to make decisions based on data. Your business software should provide accurate, real-time data and reporting capabilities. This data will help you improve operational efficiency, increase profitability, and comply with industry regulations. Cannabis businesses need a comprehensive and reliable data management system designed to scale inventory and operations, integrate easily with other systems, and provide best practices for compliance automation. The cost of the exemplary system may be more than spreadsheets, but it will pay for itself many times over with increased efficiency and accuracy that save time.
Choosing the right technology solution to fit your business model can be overwhelming. Many vendors claim to have the solution you need, but finding a company with a track record of listening to customers and addressing their needs is essential. Look for a company that regularly updates its software based on customer feedback and requests. Using a search engine is a good start, but you can also go to cannabis industry events and talk directly with the people who work for each software vendor. Trade shows are great opportunities to ask specific questions the sales team can’t answer directly and to learn whether the product meets your needs.