By Seed And Beyond | Blogs |
With more states legalising medical and recreational Marijuana for adult-use, the Cannabis industry is expected to grow multi-fold creating more opportunities for Cannabis business owners and investors. Cannabis retail outlets and dispensaries need a robust POS system that would help monitor and manage all retail operations with ease. Hence it is important for Cannabis dispensaries to choose the right POS software for their business to manage their operations efficiently, grow their business and stay compliant – all at the same time.
Here are 7 essential features to look for in any POS system for your Cannabis dispensary:
Customers are key to any business and creating good customer experiences is one of the top priorities. Your Cannabis POS system needs to have a robust customer management system with capabilities to create and manage customer profiles for each licensed patient, automate ID verification for every purchase, keep track of the purchases done to enable targeted marketing and manage loyalty programs, discounts and promotions
A seamless inventory tracking and management is one of the most important features of an efficient POS system. This includes automated tracking of inventory from shelf to sale, real-time inventory tracking and reporting, automated alerts for placing new orders, and vendor management.
The POS system needs to communicate with all the hardware and software business tools you use on a day-to-day basis to streamline retail operations. From barcode scanners, weighing scales, printers to accounting and finance systems the POS software needs to have seamless integration capabilities.
4.Easy to Use:
The POS system needs to be intuitive and easy to use for your staff so that they can spend more time building customer relationships and less time figuring out the nuances of a system. Managing unique IDs for each member of the staff, ability to create staff roles and permissions based on their access levels, streamlining approval process for discounts and taxes, alerting staff when a customer’s purchase limits have exceeded are some of the key features to look out for.
Compliance plays a huge role in the Cannabis industry. It is imperative for your POS system to be state compliant and follow the guidelines laid out by the state for monitoring the Marijuana supply chain. From customer verification, inventory tracking to audit trails every bit of information need to be tracked by the POS system and communicated with the state approved compliance system in a systematic manner.
A Dispensary’s POS systems will have access to a lot of private information including patient records, personal information of customers etc. and hence the system needs to have advanced security features in order to avoid any data breach. Sign-in authentication, role-based permissions, secure cloud services and data centers are some of the features to look out for in a POS system.
7.Reporting and Analytics:
Reporting and analytics form the backbone of any Cannabis business. With the rapidly growing market space, it is important to leverage data tracked by your POS system to gain insights and make critical business decisions. Access to daily sales reports, receipts, returns etc. are also key parameters to be tracked in order to stay compliant. Apart from this, reporting and analytics also help improve the profit margins and grow your Cannabis business.