If you are looking to upgrade your traditional/manual POS process with an automated one, then there are plenty to choose from. That said, for a cannabis dispensary, implementing a generic POS system will come with its fair share of troubles.
Conversely, a cannabis-friendly POS system offers plenty of benefits to dispensaries. One of the biggest benefits being that those in the cannabis industry have to follow strict rules and regulations and cannabis-friendly POS systems have integrated compliance features to help with that.
Before getting too far ahead, a POS or point-of-sale system manages sales, processes and tracks transactions, and often provides additional tools such as inventory management and automated marketing features.
Cannabis-friendly POS systems offer more features tailored specifically to the cannabis industry. These features typically include:
Clear inventory metrics to ensure that all inventory is tracked and accounted for. Additionally, dispensary owners can create and manage product packages and ensure that they meet compliance standards.
Real-time customer purchase limit tracking is one of the most convenient features to have in a cannabis-friendly POS system. It ensures that customers do not accidentally (or intentionally) buy more than what is allowed under the law. This is also helpful to make sure that newly-trained employees don’t make any mistakes in this area.
In the cannabis industry, cashless payments aren't as straightforward. Typically, only debit cards are allowed. The problem is that generic POS systems don’t account for that. Cannabis-friendly POS systems do. While this may seem like a simple feature, cashless payments have been shown to boost the average cart size—leading to more sales. So, having a cannabis-friendly POS system that accepts debit cards is a must for dispensary owners.
Another “secret” method of accepting cashless payments is through loyalty programs. A good cannabis-friendly POS system will offer customizable loyalty programs to boost sales and give customers the option to pay with redeemed loyalty points.
Many cannabis industries are stuck in the past—only accepting cash payments and not tapping into their online sales potential. The right POS system will not only accept cashless payments but will also integrate into the dispensary’s online store.
A POS system without analytics is not worth the time. A cannabis-friendly POS system that includes analytical reporting is invaluable. Knowing what items are flying off the shelf, which ones aren’t, and when they are being bought is huge. This allows for smart (and compliant) inventory management and more competitive offerings. It also allows dispensary owners to plan ahead for certain sale seasons or days based on the time of year and any holidays that are approaching.
Because of the strict regulatory standards surrounding the cannabis industry, a cannabis-friendly point-of-sale system is a no-brainer. It can offer all the same features of top generic POS systems along with special cannabis-specific features—and it helps ensure regulatory compliance.
.svg)
