The right POS software can help businesses cultivate customer loyalty, streamline back-end operations, and optimize efficiency. It should also support compliance, prevent data theft, and provide fraud detection services.
Medical and recreational dispensaries will need software with age verification features to streamline check-in while maintaining compliance and a queue management system to minimize wait time. This will help ensure that only qualified buyers purchase products.
Ease of Use
When shopping for dispensary software, finding one that is intuitive and easy to use is important. The less training needed to learn a new system, the faster it will be to adopt and capitalize on all the benefits. A dispensary’s point of sale system impacts operations, data, and business intelligence at every level — inventory management, staff organization, sales process, digital marketing, customer loyalty, and more.
A cannabis point-of-sale system should offer a high-speed, stable platform to handle multiple retail transactions and e-commerce sales in real-time. It should also integrate with hardware like barcode scanners, receipt printers, and cash drawers for a seamless workflow. It should also allow your team to quickly navigate through product information, order history, and inventory levels, making it easier to keep up with customer demands in a fast-growing market.
The right POS system can increase efficiency, sales, and profitability by providing valuable insights and support. This includes data about your customers and their buying habits, which you can use to tailor promotions and discounts to specific groups of buyers. This data type also helps you improve your operational decisions and make strategic adjustments to your business.
Inventory Management
A cannabis point-of-sale (POS) system should be designed to seamlessly handle the inventory and sales of retail dispensaries while maintaining compliance. Many states require that retailers report sales daily, weekly, or monthly. A good marijuana POS solution will allow you to automate this process, which makes staying compliant a breeze and allows your business to continue growing. A cannabis POS should also integrate with a state-specific trace and track system.
A POS that offers integrated customer relationship management (CRM) will enable you to track customer data in real time, including contact information, purchase history, and accumulated loyalty points. This will help you better understand your customer base so you can design the best products and marketing content for them.
The POS system should also be able to connect with a variety of cannabis-specific hardware and payment processors. A good POS will support credit cards and cryptocurrencies, which is increasingly important as consumers demand cash alternatives. It should also allow budtenders to process orders from anywhere in the store. This helps improve customer experience and increases throughput. Lastly, a POS should be compatible with mobile devices so employees can use it on their phones or tablets. This will allow your team to work more efficiently and reduce the risk of human error that would otherwise occur if they were limited to using a desktop-based system.
Reporting
To run a dispensary, many things must happen behind the scenes, from inventory management to tracking compliance and retail sales (both in-store and online). Cannabis retailers can find themselves drowning in reports, data, and paperwork. This is why using the right technology stack to streamline your day-to-day operations is essential.
A great cannabis POS system will help you keep track of all your data and optimize back-end business functions. It will give you valuable insight into your consumers so that you can offer them a more tailored experience. Consumer data from your POS can also inform your top-selling products, how you decorate your storefront, and even how you staff your team. You’ll want to make sure that the cannabis software you choose is compliant with your state’s regulations. Your POS should have built-in compliance features to help you submit all the necessary information to your regulatory body. The best cannabis POS systems will have e-commerce integration. This allows you to offer customers an easy, convenient way to purchase products from your dispensary online. This is especially helpful for customers who live far away or have limited access to cannabis.
Integrations
Modern cannabis consumers expect quick, easy, and safe shopping experiences — just like they buy a cup of coffee or run into Target. But, creating these experiences is only possible with the right technology.
A dispensary’s point of sale (POS) system is the heart of the business, and it needs to do more than track sales and customer data. A POS system with robust integrations helps retailers, dispensaries, and other businesses maximize their productivity by streamlining workflows and automating time-consuming tasks. POS systems integrating with CRM or loyalty programs help drive traffic and increase revenue by providing valuable insights into customers’ behavior and preferences. A loyalty program can engage shoppers through SMS text messaging, email marketing, customized discounts or complementary items, and point redemption – all while rewarding repeat shoppers and building brand affinity.
A good POS can also seamlessly transfer products between locations – which is important when expanding your operations to new markets.
