The best dispensary POS software is critical for managing inventory and sales and staying compliant. It can also help your business attract and retain loyal customers.
An unreliable dispensary point-of-sale system can disrupt your business and cause a frustrating experience for your customers. Look for one that provides redundancy and uptime to prevent outages and keep your business operating.
Reputation
As a cannabis retail business owner, you know that keeping up with state regulations and maintaining compliance is critical to your success. However, the stakes are much higher for marijuana retailers than traditional retail businesses because a compliance failure could mean losing your license. That’s why it is essential to choose a dispensary software provider with a strong reputation for helping their customers stay compliant.
A good POS system should include the ability to scan customer IDs and automatically enter them into a database for age verification. This helps ensure that your employees aren’t selling too much weed to one person or minors. Additionally, a cannabis POS system should support cashless ATM-style payments that feel like traditional debit transactions for your customers and streamline checkout.
Another feature of marijuana dispensary software is the ability to track product performance. Knowing which products generate the most sales can help you create strategic promotions to cycle through low-performing inventory and boost sales of high-performing products. In addition to state reporting and compliance, these solutions offer a range of features that other POS companies may not provide, such as mobile queuing for customers, alternative payment options, and display menus at your dispensary.
Ease of Use
A cannabis point of sale (POS) system is essential for your dispensary. However, you will need specialized software created with your industry’s unique needs. Look for a cannabis POS that offers benefits like compliance measures, cashless payments, and integration with accounting systems. A quality POS should also have customer service that is fast and efficient. This will help your business run smoothly and ensure customers have a great experience. It should also offer a variety of ways for your customers to communicate with the support staff, including phone, email, and live chat. Choosing the right software for your cannabis business will save you time, money, and effort in the long run. It will help you stay compliant, optimize your product catalog, and manage supplier relationships. However, you should be able to weigh the cost of the software against the value it will bring to your business. As the industry grows, more tech companies that specialize in the cannabis space will emerge. This makes selecting a company with a solid reputation and a proven track record essential. Ensure you can contact a previous company client and ask about their experience.
Integrations
Having a marijuana POS system that’s compatible with other essential business systems is key to your success. This is especially true for dispensaries, which must track inventory and comply with regulations. This is why you’ll want a dispensary point-of-sale (POS) software that integrates with the seed-to-sale tracking system Metrc and other cannabis compliance and data management solutions.
A POS system integrating with cannabis payment processors is also vital for any marijuana store. These systems can make it easy to accept customer payments, helping you improve your bottom line. Additionally, a POS that can integrate with customer loyalty programs can help you build brand affinity and increase customer retention.
Another feature to look for is an integrated POS that provides workforce management tools. These can help you save on labor costs by preventing time theft and automating certain tasks that would otherwise require manual calculations. This includes overtime, split shift premiums, daily minimum wage requirements, and statutory holiday pay. A good POS can even help you stay compliant by allowing you to track your break violations, employee timecards, and more. This can ensure your employees are following your set schedules and that you’re only paying them for their work. This can help you avoid losing your license and avoiding fines.
Pricing
The price of marijuana POS software can vary widely depending on your business’s needs and complexity. For example, more advanced solutions, including analytics capabilities, CRM system integrations, and multi-location support, may cost thousands monthly. In general, however, you should expect to pay around $200-$500 monthly for a robust cannabis POS solution that tracks inventory, manages orders, and provides tax compliance reporting.
It’s also worth considering how much the software will help your business save on labor costs. For instance, high-quality cannabis POS software can streamline transactions and automate compliance so that you can process more sales in less time and have more money in your till at the end of the day.
A high-quality marijuana POS system can also help you better understand your consumers’ buying behavior and market trends, allowing you to optimize your operations for maximum profitability. For instance, you can use the data to determine which products are selling well and what your pricing should be.
Finally, a good dispensary POS will enable you to monitor your stock and quickly alert budtenders if any of the most popular items are running low or out of stock. This will help you avoid losing sales to disappointed customers and ensure that your top-selling products are always in stock so that people keep coming back.
