The challenges of running a successful cannabis dispensary aren’t the same as operating a retail store. It is because the canna-business needs to take into consideration some added elements of regulations and compliances.
Know that the dispensaries are regulated entities. And, that’s the reason they need to submit documentation for proving their compliance with the regulations. They need to provide proof of their operating hours, the KYC information of the customers, sales information, payroll information, etc. With all those regulatory requirements, it is wise to stay compliant with the time-consuming and labor-intensive laws.
However, the cannabis business tycoons suggest using dispensary-specific technology to handle tasks with utmost accuracy and proficiency. Some software and technology will aid in the running of a streamlined, successful, and compliant dispensary.
Below-mentioned is some technologies and software to run the dispensary in the best manner:
Inventory Management Software:
Inventory management is the process of purchasing, acquiring, storing, and eventually keeping track of inventory sold at a store.
These systems are essential as they inform the team when running low on specific strains and products. Thus, enterprises can order a new order from the supplier directly on the management platform. It is also a metric to ensure that you’re adhering to the compliance laws in the best manner.
Experts remark that a great inventory system must integrate with other systems. These may be delivery systems, metric inventory tracking systems, client marketing systems, and others. Without the inventory management systems, the chances are excellent for a business to either order too much or too little. And, in turn, may expose a company to hefty fines or even worse punishments.
A Compliant POS System:
One of the most helpful software technologies the business needs in a dispensary is a POS system. Know that this system helps in processing the sale transactions and provides a seamless mode of payments.
Probing that, this isn’t the only purpose of a POS system. This system assists in inventory management and holds the dispensary’s regulatory requirements. A pos unlimited aids the compliance by managing the customer’s actions like check-ins, transaction rejections after closing time, and many more. Know that it also produces the customer and sale reports enabling regulators to assess compliance at all times. With an integrated system, you can foresee the sales vs. labor reports and create schedules based on labor forecasts.
Employee Management System:
A sound system is needed to manage employees and extract the minimum levels of productivity. This system is also famous under the names workforce management system, or scheduling and time tracking solution. The entire essence of having it is to design shift schedules and follow the employee time logs.
Suppose you’re using an integrated management system. In that case, you can also unleash the benefits of HR, time tracking, and scheduling for integrating with dispensary payroll. These systems also allow the dispensary to pool the labor and sales data for tracking in-store performance in real-time.
Some other must-have software for your cannabis dispensary is dispensary payroll software, website and eCommerce menus, and customer management software. Now that you have opened a dispensary, got a license, and locked your brand, incorporating some software for running your operations is essential. One or a few software are sure to help you create a thriving cannabis retail store with complete ease.