When the unfettered access to cannabis was put into law by the Canadian government, dispensaries all over the country began updating their business to meet legal standards.
However, to run a successful business, you need to do more than the minimum federal requirements. Operators of retail stores need to find a point of sale system that can meet their administrative, management, and marketing needs while ensuring an efficient delivery to clients. Likewise, a cannabis dispensary needs a POS system to support their daily business operations.
Below, we discuss the advantages of having your own POS and what features are best for your cannabis business.
Why You Need a POS System for Your Cannabis Business
Canada made history when it became the largest country to fully legalize the medical and recreational use of cannabis. From October 17 of 2018 to July 2019, the monthly sales of cannabis passed the $100 million mark. The market is huge and needs the help of a sophisticated system that can support the day-to-day operations. Thankfully, the dispensary system has been helpful in facilitating a smoother transaction for every client. The cannabis market has so much potential but business owners need to find a way to balance the need for a system that can cover sales, customer management, and inventory. Legal cannabis dispensary software offers significant advantages to help businesses keep track of earnings and stay afloat.
Dispensaries play a huge role in keeping cannabis consumers from buying them from the black market. The dispensaries bridge the buyers and sellers without the fear and stigma commonly attached to cannabis. It is important to find a dispensary POS system that will give clients a satisfying shopping experience.
Sellers need systems that have high regard for reliability, an integrated inventory management system, automatic compliance reporting, and an intuitive interface.
Advantages of a Cannabis POS
If you are struggling to accommodate the high sales volume or you want to make your products available to more people, then adding dispensaries and a working POS system is the way to go.
Here are the key benefits of having your own POS system for dispensary:
- Easier Transactions for Budtenders and Customers
With a new normal promoting social distancing measures, people queuing up to pay for their purchase is the last thing you would want to see in your dispenser. There is no need to take the complicated route by forcing people into manual order-taking, using the calculator, and using a cash register.
You need to have a POS system running efficiently to save time and avoid forming long queues. This investment will allow you to optimize your daily retail operations while making it easier for both you and your clients.
- Streamlined Accounting
The POS system will streamline order-taking and accounting for convenience. As the order is added to the system, it will be automatically tracked and added to the daily log. The right system will also eliminate order and transaction errors presents that correspond to menu offerings.
At the end of the day, week, and/or month, you will have an accurate record of activities and transactions. It will be easier for you to pull out these logs for reporting.
- Reliable Inventory Tracking
You need to keep tabs on your inventory to make sure that the products are weighed and sold properly. Under federal laws, an adult can only possess up to 30 grams of cannabis. You also need to make sure that there is no one stealing your products. Your POS will monitor where your products and cash are, making faster to spot discrepancies.
- Facilitates Quicker Sales
If you want your customers to have a good experience at your dispensary, keep their wait time short. Clients are generally not fond of having to wait long for their orders to be taken, packed, and paid.
A cannabis POS system will lessen the wait time and increase the number of sales produced in a span of time. You can create faster and more satisfactory sales experiences for your customers and increase the chances of repeat business.
- Compliance and Reporting Made Easy
The accounting advantage of a POS system is a gift that keeps on giving. Generate accurate reports that prove your financial stability and compliance with regulations.
POS System Features to Look For
The needs of cannabis retailers are unique to the industry, which is why it’s imperative that they acquire a reliable dispensary POS system designed specifically for them. The POS system is your partner in managing inventory, processing sales and other functions. Admittedly, the search can be daunting. To help you select the most suitable unit, here are some key features that can benefit your business:
- UX/IX (Product Design and User Experience)
The cannabis industry is no different from other retail sectors. A POS system that’s easy-to-use is the top priority when choosing one. The power of product design and smooth user experience can lead your business to success.
Designing a specific POS for cannabis sales means addressing any nuances the industry may have. It will also help to make your POS facilitate a responsive and interactive customer-seller transaction.
- Dedicated to Improve Budtender Performance
A dedicated cannabis POS system should encourage improved productivity. In addition to sales and profit, choose a system that is built for convenience and can reduce the steps to closing a sale.
Your machine should eliminate the need to manually schedule time and attendance. These can be registered and adjusted within the system without any errors.
- Easy and Advance Reporting
A strict set of federal regulations are in place to make sure dispensaries are operating within the law. Dispensaries that are found not complying will be slapped with fines or penalties, if not, a revoked license.
A POS system can help dispensary owners take an easier route to an otherwise burdensome task through powerful tools that allow tracking of sales and automatically-generated reports.
- Safety Reliability
When choosing a POS dispensary system for cannabis sales, opt for one that offers stability. Does the product have a clean track record of fending off security breaches? Will it be able to handle high traffic without the risk of losing transactions? Is it prone to failure or is it known for minimal downtime? You have to consider the safety, stability and reliability of your chosen system to protect your business and clients.
A dedicated cannabis dispensary POS system is a handy partner in managing your business. It covers a multitude of business processes so it minimizes the tasks you delegate to your workers. Investing in a solid system is necessary for your business tor thrive.
At Point of Sale Remarketing Group (POSRG) Canada, we understand the value of a POS system to dispensaries. We are here to offer our assistance and to help you along your journey to success. Our trained technicians and helpful sales staff can help you find the right POS hardware and software for your needs. For inquiries, get in touch with us by calling 1 (905) 332-8809 or by emailing firstname.lastname@example.org.