With more and more states moving toward legalization, the rapid growth of the cannabis industry is still in its early stages. As attitudes toward cannabis begin to change with the majority of Americans supporting legalization, there are still several obstacles for local dispensaries. These challenges stem from the fact that cannabis is still viewed to be illegal under federal law. This makes it difficult for dispensaries to work with the mainstream banking system, causing a great deal of frustration to legitimate business owners looking to bank with reputable institutions. Because of these challenges, up till this point, dispensaries have been primarily a cash business. (Pro-tip if you’re looking for cannabis banking, check out this page)
Luckily, more and more dispensaries are beginning to offer payment through debit cards, as well as a whole suite of technology solutions that have enabled the industry to more closely resemble traditional retailers. Whether we are talking about new methods for payment other than cash, online ordering, or medical marijuana delivery systems, the evolution of tech in the cannabis space is an exciting development for the industry.
In this article, we will take a look at the best cannabis dispensary software tools available to retailers today.
Which Cannabis Software Tools Should I Get?
If you are a retailer, there are many software tools you should be taking advantage of if you are looking to run your business in the most efficient way possible.
Point of Sale (POS) Software
A dispensary’s point-of-sale software is often the most important within your cannabis technology stack. Cannabis POS software does much more than simply handling transaction processes. It also assists in check-in and inventory management. Many POS software providers also have features to help ensure compliance and connectivity with your state’s track-and-trace system.
While the functions listed above are crucial, point-of-sale software can also help your dispensary perform an even wider variety of tasks. Most POS software facilitates customer check-in while also verifying customer ID and age. Many POS providers also offer tools to manage the customer queue, store customer profile data, simplify sales processes, track customer purchase limits, remove sold products from inventory, process payments including debit cards, manage inventory as well as include basic customer loyalty programs.
When it comes to cannabis dispensary software, the e-commerce platform you use will be an extremely important consideration. Much like the rest of traditional retail, the consumer has shifted to purchasing more of their goods online. With this in mind, it is essential to work with cannabis software companies that provide an e-commerce platform to handle online orders. Having ERP software for cannabis processing systems is key.
When looking for an e-commerce cannabis software solution, you are going to need to make sure it performs a wide variety of functions. This includes the ability to sync inventory in real-time, as well as the ability to import accurate product descriptions and information. Some other features include high-quality product images, current price information, and an advanced search bar that allows you to sort and filter products.
Software systems that provide those key features are essential and should ultimately improve satisfaction. Another great benefit of having a reliable e-commerce platform is that it can increase dispensary visibility. It can also improve customer satisfaction overall seeing as a nice platform gives the consumer access to all your products in a clear and easy to navigate way.
Overall, a solid e-commerce cannabis software dispensary platform is of the utmost importance if you are looking to run your dispensary as efficiently as possible. By having the proper software, you can ensure that your dispensary is providing a modern online shopping experience.
HR and Payroll Software
Another necessary software for your dispensary is going to be some kind of HR and payroll software. Employee benefits and taxes need to be paid correctly, and this is best done with reliable software designed specifically for the cannabis industry.
Some of the key features of HR and payroll software include the management of payroll, human resource management, timekeeping, employee scheduling, tax compliance, time-off requests, and tracking employee costs. This type of software can also assist you in managing benefits, tax documents, the filing of federal and local payroll tax, as well employer recruitment, job openings, and employer onboarding.
Cultivation, Management, and Distribution Software
Running a vertically integrated cannabis business is no simple task. There are many moving parts to this business with one of the most important aspects being the cultivation of the product itself. Having the proper software in place is critical for those looking to manage their growers, cultivators, extractors, testers, and distributors.
A good software solution will perform the following tasks making it easier for you to manage the cultivation and distribution of your product. These key features include the ability to integrate hardware like scanners and scales, as well as the ability to streamline full-scale operations.
Distribution software should also allow you to manage employees and reduce labor costs. It should also track plant growth across all stages, log cannabis seeds, and generally manage all stages of supply chain management.
This is perhaps one of the most important types of software necessary to run a successful cannabis dispensary. Because much of the cannabis industry is done in cash, strong security is often a legal requirement in most legal cannabis states. To find the best security provider, search for local security in your area and make sure they are willing to work with your dispensary.
A good security system for dispensaries includes exterior and interior building cameras that monitor all activity going on inside and outside of the store. Having the proper measures in place will protect your inventory as well as customers and employees. Having security guards can also keep unwanted people out of the dispensary creating a safe environment to conduct business in.
How to Choose Cannabis Software Tools
Having gone over the top software tools that are essential for any dispensary, it is important not to get overwhelmed by the vast variety of options available to dispensaries today. By going over the basics provided in this guide, you will be better able to assess your needs and choose the right software to best serve you and your business.
Paybotic Payment Processing Solutions
Are you looking for more payment solutions to help your dispensary? With years of experience in the cannabis payment processing space, we can assist you with all your payment needs. With a strong network of domestic, we are able to provide solutions for every type of legal high-risk business.
Whether you are looking for cannabis software, debit card processing, ACH/e-check, merchant cash advance, or any other payment solution we can customize your experience while finding the best partners that can fulfill all your payment needs. To learn more, contact us at 844.420.4729 or fill out our contact form today. Our team of professionals will be glad to help you find the right payment solutions for your cannabis dispensary.