What Is a Dispensary POS and Why Does Your Marijuana Dispensary Need One?
The term Point of Sale (POS) describes the place where retail transactions are made. Think of it as the equivalent of a cash register. POS includes the hardware and software related to transactions, such as the cash drawer, credit card swipe bar, barcode scanners, receipt printers, and more.
POS is an important feature for dispensaries, whether they have a brick and mortar location or take orders online. But a good dispensary POS system does more than just ring up the customer. Today’s dispensary POS systems are often integrated with other systems, streamlining operations. Dispensary POS software can also automatically help with merchant transactions, and assist with analyzing data in your dispensary for greater success.
Investing in a POS system is hailed as being one of the best things you can do for your dispensary. Dispensary POS systems are comprised of various hardware, software, and levels of sophistication and complexity. However, even the most basic dispensary POS systems, which include an electronic cash register and software to coordinate sales data, allows dispensaries to increase their functionality.
With a modern POS system, dispensaries can improve their flow and function. Beyond providing flexibility or processing daily transactions, dispensary pos software increases the likelihood of success for the entire operation by providing tools to streamline the dispensary’s operations. What is crucial for a modern dispensary point of sale system is mobile capability. Indeed, a mobile component for your dispensary’s POS system enables you to conduct cannabis dispensary and sell products from multiple locations — and still be streamlined. By investing in a mobile POS system for your dispensary, you can expand the reach of your marijuana dispensary and products, selling to consumers from locations other than a physical store.
How does a POS simplify data management for your dispensary? It allows you to log, track, and access real-time sales data quickly, efficiently, and securely. In fact, the best dispensary POS systems will not require you to transfer data from one system to another. Rather, good dispensary POS software will be integrated and offer real-time dashboards to see sales performance and metrics at any moment.
Modern dispensary POS systems are comprised of a database which enables dispensaries to keep track of the items they have in stock. With advanced inventory data stored within the POS software, dispensaries can use their POS to look up previous transactions, track their best-selling cannabis products, and reorder them when they get low in stock. For these reasons and more, it is definitely a plus to choose a dispensary POS that either integrates with your inventory system or offers its own centralized inventory management. Dispensary POS systems can be an effective way to track sales by individual employees. As well as the employer monitoring the performance of sales teams, employees can use such systems to track their own sales statistics. By tracking sales statistics, employees become more aware of their own personal sales targets and objectives.