The cannabis industry, like any other, has begun to evolve as the market began to standardize it. Software is used to make the day-to-day activities of running a dispensary a lot easier. As cannabis dispensaries started coming into the limelight, they have embraced the mindset of a traditional retailer.
Cannabis dispensaries like that of any other e-commerce portal out there are attempting to build a loyal customer base by outdoing one another. They do this by personalizing and tailoring a unique shopping experience to all their customers.
Cannabis software is similar to that of any other software solution that is used to modernize business operations. Once the point of sale model has been set in place, all operational aspects such as cultivation, CRM, delivery, HR, and even ERP software can be implicated into your business and onto its hardware systems too.
As we progress through this article, we will see how the software systems that we all know and love are uniquely implemented into the cannabis industry.
Table of Contents
Cultivating and Distribution
img source: www.finedininglovers.com
This software is similar to any scalable business and its management software, but the cannabis-specific software package is integrated with a few essential features for dispensaries. This software would come in built-in features that allow it to log the seeds, plants, and packages.
It helps integrate the various hardware systems like the scanners while seamlessly streamlining the processes, such as tracking the growth of your plants. Moreover, the distribution software package will be able to take care of vendor management, purchase orders, inventory management, and invoices while yielding greater efficiency.
Point of Sale
This is an open API explicitly developed so that other tech suppliers can easily access it. This cannabis POS software is custom designed for the unique needs of dispensaries. It helps ensure that state dispensary compliance laws are met at all times while effectively handling the transaction process itself.
What other nifty features does it have in store? The software system makes sure that the customer’s age and ID are validated and ensures they remain within the mandated customer purchase limits.
But, when you are in the market for a state-of-the-art dispensary point of a sale software system, you must consider an industry leader like Flowhub. When it comes to developing software for dispensaries, they are a benchmark provider of robust cannabis software solutions.
Accounting
Keeping track of revenue, managing payrolls, tracking assets, and understanding gross profits can be quite complicated. This time-consuming cycle can be simplified through the right CanaTech accounting software. This software will enable you to effectively track your invoices and tally your sheets without having to depend on your Excel spreadsheets.
E-Commerce
img source: medium.com
We live in a digital world where we like things to be done in the path of least resistance. Nowadays, people don’t have time to go over to the store and buy the things they want. People would much rather prefer to order it online from the comfort of their home as they get some work done or binge-watch a hot new show.
The average cannabis consumer is the same; they would prefer to order it online and have it delivered straight to their home.
A properly maintained e-commerce portal would increase your visibility, maximize your efficiency, and reduce waiting times for your consumers. More importantly, it facilities a robust and modern shopping experience.
Perfectly integrating e-Commerce into your business would also give consumers real-time information on cannabis products, a level of convenience that will drive up customer satisfaction.
HR & Payroll
img source: brgaccountants.com
Any business is responsible for tax and other legal compliance. If you have hired your own employees, you would need to manage their paychecks while also ensuring you get your taxes sorted out.
You would want to ensure that you purchase cannabis-friendly software so that you don’t run into any trouble later on. Any adept HR and Payroll software should be able to ensure tax compliance and guidance with 280E.
A comprehensive HR and Payroll software solution will also allow you to simplify hiring processes, onboard employees, follow up on employee costs, and aid with your overall human resource management.
Security
Having good dispensary security systems in place may not just be a good idea but could even be a legal requirement. In fact, many states have made it mandatory to instill competent security systems within the cannabis market.
The good thing with security is that you need not go out of your way for a CannaTech based solution. Even a conventional security provider should be able to get the job done. Maintaining a security system means you will be able to protect your employees and your customers better.
Not only this, but the dispensary as a whole would be protected as interiors, exteriors, and inventory can be monitored. They are not just monitored but also logged such that one can review them again later if needed.
Loyalty & CRM
img source: www.swotdigital.com
The cannabis industry, like any other, requires customer satisfaction and reoccurring business if it is going to succeed. Maintaining accurate customer data and personalizing customer shopping experiences while incentivizing brand loyalty can go a long way – not only in marketing your dispensary but in building brand affinity.
To Sum it All Up
As the legal cannabis market evolves to encourage more entrepreneurship and fresh rounds of startup cannabis operations, the software for dispensaries will need to evolve too. An effective cannabusiness should be able to leverage the software solutions in the market towards the betterment of its service, which will, in turn, build a stage for greater consumer engagement and satisfaction industry-wide. Hopefully, by inculcating the values of a traditional retailer, dispensaries will thrive from a more mature market standpoint.
Dispensaries have shown that there is indeed a market for everything, and consumer expectations shoot up along with it. Consumers more or less want the same convenience and service that is offered by other retail segments in the cannabis market as well.
The software scope has now grown along with the cannabis market. This has enabled dispensaries to integrate alternatives to the software they are familiar with within other retail segments. This includes software sectors like HR, accounting, security, e-Commerce, and CRM, all of which are now compatible with dispensaries and their business models.
It is recommended that you keep these things in mind when checking out the various software solutions for your dispensary operations and unique needs.
