The burgeoning cannabis industry has spawned a myriad of peripheral sectors, also capitalizing on its high demand. One of those is the cannabis POS (Point of Sale) sector, looking to surf the wave of potential in what is now the world’s largest recreational market.
Legal dispensaries have highly-specialized requirements to follow, and it’s not usually possible to purchase a traditional retail POS system to use in a cannabis dispensary. As such, the kind of POS system you implement in your cannabis business can really help or hinder your practice. But why is that? What are those strict guidelines to follow? What are some cannabis POS examples and how could they help?
Let’s dive in.
Cannabis POS Systems: Legality
As stated, cannabis retail outlets have much stricter guidelines to adhere to than a standard retailer. The many years of legal ambiguity surrounding cannabis make this so. Sure, in October 2018, Canada legalized recreational cannabis in its entirety, but that doesn’t mean the powers-that-be aren’t still stringent on its use in society.
On the surface, buying cannabis may look as simple as, say, buying a t-shirt. You go into a dispensary (provided you are over 18), pick what you want, engage in friendly chat with your seller, pay in your preferred method, and leave happy with your purchase.
However, behind the scenes, it’s far more complex for a retailer to trade in cannabis than in t-shirts.
A good cannabis POS system needs to have the ability to adapt to any jurisdiction’s unique legal requirements. As such, it should be customizable for the jurisdiction and have certain metrics within the system ensuring each cannabis business is doing everything by the book.
One of the biggest needs of a cannabis retailer is to keep customer data safe and secure. A good dispensary should keep a log of its regulars and their chosen products. As a dispensary offers much-needed health alternatives, it should understand a client’s individual needs. Keeping track of tried and tested products is one sure way to do this. A reliable and safe customer database, inbuilt in a cannabis POS system, manages this vital aspect of the marijuana business.
Payments and Inventory
Businesses need to handle payments, track inventory, and securely manage customer records, all the while complying with local and federal regulations. The software necessary for so many functions is not normally found in a standard POS system.
But cannabis POS systems are different. These are built sector-specific. They aim to help any dispensary to navigate its way through the often complex list of necessities.
Designed with cannabis businesses in mind, a cannabis POS system has the necessary features built in. A reliable system should come with the following:
- an integrated inventory management system;
- an easy-to-use interface;
- automatic compliance reporting;
- data analysis;
- data security;
- training features;
- employee records;
- and integration capabilities.
Systems to Consider
Here are some examples of cannabis POS systems standing out from the crowd.
Cannaone’s BloomKit offers a complete enterprise solution for any business to consumer cannabis company. Features include an online dispensary with multi-themed options for selling product, pick-up scheduling, as well as delivery services for both medical and recreational sales.
Importantly, BloomKit comes complete with “modular dynamic features,” making the software adaptable to any legal regulations within any jurisdiction. As the website states, “Our SaaS is constantly adapting to the respective global regulation and legalization of cannabis.”
BloomKit has all your retailing business needs in-built in the software, and this means being able to serve clients effectively, efficiently, and quickly on a global scale.
Further, the system allows for every aspect of the cannabis business to be managed in real-time. This includes personnel, inventory, and sensitive patient data. The BloomKit cannabis POS is ready to help with a multitude of business requirements and, effectively, eliminates the need for a development team:
“BloomKit is comprehensive enterprise software that is built to accommodate any scale of operation. Our platform does not require your business to rely on a development team.”
For any Canada-based retailers, the GreenLine POS System might suit your needs. The software is strictly available only for Canadian retailers. This cannabis POS system can handle both in-store sales as well as online transactions and is usable across multiple platforms.
One interesting feature of the GreenLine system is that it can manage inventory across multiple locations. This means any retailer with more than one brick-and-mortar store will be able to get an accurate picture of total sales, as well as specifics within each store. This means an owner can highlight the most popular products in each location and can also transfer products between stores; especially handy when supplies are running low in one location.
This cannabis POS system also maintains compliance with regional regulations. Especially if you consider franchised store-fronts or the bigger companies with multiple locations, the GreenLine POS system is a utility must-have for streamlining inventory and data storage.
Where GreenLine is available for the Canadian market, Green Bits in only available to the US market. Headquartered in Portland, Oregon, this cannabis POS system comes with the necessary features to maintain continuous compliance.
Interestingly, this system integrates with both Weedmaps and Leafly—two of the biggest online cannabis websites in the world. In choosing Green Bits, stores can be automatically added to the WeedMaps map and both sites’ databases. This helps to boost the business profile through being findable on these sites and also through customer reviews.
Green Bits is heavily customer focused. It comes with a customer loyalty program to boost the retail experience and aims to provide fast check-out processing with instant access to customer records.
Cannabis POS Systems
So, there you have all you need to know about cannabis POS systems! Remember, a cannabis-specific POS system will differ in functionality to a regular POS system. It’s worth your while taking the time to research the available options in your jurisdiction to choose the most suitable system for your business.
The cannabis industry is still very young and, as such, retail systems will continually evolve to suit its needs. There is an important balance to be found between the consumer experience and those all-important industry regulations. The cannabis POS systems listed above should help any cannabis business to do just that.
Featured image: DepositPhotos © jetacomputer