More states in the USA are approving medical and recreational cannabis for adults. And with that, the business of cannabis is taking a new turn. If you are a business owner or an investor, surely it is a profitable time for your business. For your cannabis retail and dispensary, you will need a robust POS system that will help you manage and monitor your sales while you remain in complete compliance with the government.
Why the Right POS System is Important for Cannabis Retail
When running cannabis retail, you need to invest in the right dispensary POS system that will help you in many ways. How? Take a look.
- Cannabis POS software will help you with maintaining compliance. You will get to set up the age verification, recording purchase and inventory management easily with the right POS software.
- Accuracy is important for the cannabis business. From seed to sale, you can keep the record intact with the help of cannabis POS software.
- During the pandemic, cannabis online ordering experienced a surge. With the help of Anthea software or other dedicated systems, you can easily make it available online.
- The right POS system will help in running a loyalty program, managing gift cards and email marketing campaigns easily.
So, it is pretty much clear that you need the right cannabis POS system for your cannabis dispensary. But you also need to ensure that you are getting one with the right features. The cannabis business has unique requirements which are different from any other business. And that is why you need to look for the following features when you are choosing the POS software. Take a look.
Features for Cannabis POS Software
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Compliancy
Compliancy is one of the most important features that your dispensary software should have. It will help you maintain legitimacy while reporting the sale and details to the regulatory authority. For any state, it is necessary that the dispensary report the information of inventory, customer, package and product data to the state regulatory body. Law enforcement uses this information for the track-and-trace system to find out any illegal cannabis activity. With the API control, the software will keep all the data saved with complete accuracy. That is why you need to choose the software that keeps all the data available for track-and-trace. If the system you are using is outdated, then non-compliance issues might arise which can shut down your business.
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Ecommerce Sale
Before the COVID 19 outbreak, buying marijuana from the dispensary used to be the trend. But with the pandemic, the online sale increased 57% roughly. The trend now is buying marijuana online. Choosing this software will also determine how you can sell your cannabis online. Most software comes with a built-in ecommerce option. This will help you sell online while you need to enable delivery, digital payments and pick-up options for cannabis.
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Cashless Transaction
It is still illegal on the federal level. As a result, most banks and financial organizations are a bit finicky about cannabis banking. That is why maintaining cashless transactions will be a better option for your business. With cardless payment, debit or credit cards and cryptocurrency, you can easily manage the transaction for your business.
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Running Loyalty Program
Running a loyalty program will help your retention of customers. While legalization is available in most states, running a reward and loyalty program will be your best option. With this, you will get the continuous flow of business with returning clients. With the right software, you can promote discounts with text and email alerts that will help you engage more customers.
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Inventory Management
Inventory management for the business is unique while compared to other kinds of business. For this business, knowing what is in stock, what will need more delivery, and what is getting sold, all are important. The data should be accurate. When you are scanning the bulk product with an inventory scanner or barcode while selling with the price gun for pos system cannabis, the information should be recorded with your POS system. This will help you easily track and trace the cannabis that you have sold.
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Security
The cannabis dispensary will store any private information regarding the patient’s name, the customer’s name, and their payment details. The POS should be secure enough with sign-in authentication, secure cloud services, and data centers.
So, now as you know about the features that you will need to look for, keep them in mind when you are investing in a POS system for your cannabis retail.
