Business
August 30, 2024

Should Cannabis Dispensaries Invest in a POS Platform?

Running a cannabis dispensary, especially in today’s market in light of constant regulation, can be very difficult at times. With high production cost, lack of effective hiring processes, and the intricacies of organizing your data - it can feel overwhelming at times.

That’s why many have suggested investing in point of sale software solutions, tools to streamline the process and make it easier to organize dispensary information. Platforms like Toke serve as fantastic opportunities to streamline the process of dispensing effectively.

Do Cannabis Platforms Help Dispensaries Comply with the Law?

One of the most important factors cannabis dispensary owners need to take into consideration is their compliance with the law. 

It’s absolutely paramount that dispensaries and dispensary solutions are able to remain compliant with regulations and keep themselves in good legal standing. If you fail to comply with state and federal regulations, you are putting yourself at risk of receiving some pretty heavy fines or even being closed down.

One of the most beneficial components of the Toke platform is that it works with Metrc to auto-regulate certain tasks of legal compliance. It also makes sure that data regarding sales and inventory are sent in accurately and in a timely manner.

Using a system like this is a huge win for your peace of mind as a dispensary owner.

How to Streamline Operations as a Dispensary Owner

In order to keep a dispensary running smoothly, it’s crucial that you’re able to stay efficient. 

One of the coolest things about Toke’s inventory management system is that it helps the dispensary catalog their products in real-time and keep track of how much of what particular strain or product is selling. This is super useful for preventing overstocking and avoiding stockouts. 

Another really valuable feature in using an inventory management platform is custom product labeling. This keeps products in compliance with state labeling demands and ensures the information is clear and concise for customers. 

Software like this also allows for owners to manage their staff remotely, including tracking employee performance, changing shifts, and storing sensitive data. 

Do Dispensary Platforms Enhance the Customer Experience?

The most important benefit that comes with a dispensary platform is the ability to enhance the customer experience, including increasing brand loyalty and bringing more business back to your store. 

One of the things about Toke in particular is its cashless payment processing, which makes processing transactions easier and safer for all involved. 

Overall, these platforms just make it so much easier for dispensaries to operate, as they allow you to connect with customers in so many different and valuable ways. This includes but isn’t limited to loyalty programs, improving satisfaction, and enhancing the speed of the service. 

The end goal is for you as a dispensary to encourage your clients to return more frequently and spend more on each trip - having a platform on hand makes it easier to do that, as it singlehandedly streamlines the entire customer journey and buying process.

How Do We Use this Data for Growth?

One of the simplest ways we can use our platforms is to leverage our data and use it to your advantage.

Having information on hand about customer buying habits, preferences, desires, and pain-points is extremely important and makes the entire experience much more seamless. 

This also speeds up the process from start to finish, with less friction involved at each turn. The more we’re able to avoid friction from discovery to sale, the better off we are.

Using Toke’s analytics features and our nuanced reporting tools is almost invaluable, especially when customer demands get overwhelming. 

As you begin to scale, you’ll find it gets a lot harder to manage your inventory, employee behavior, marketing, and brand operations, without a proper management and reporting system.

A Final Reflection on Cannabis Dispensary Platforms

When it comes down to it, we’re really looking for one thing here - streamlining. The absolute best way to do this is to have systems in place that facilitate efficient employees, productive work, and smooth dispensary operation. Using a platform like Toke is a fantastic way to make that process easier. 

Request a free demo today to get started.

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