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Dispensary Software


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Lightspeed Retail is a cloud-based point of sale (POS) solution that is suitable for retailers in industries such as apparel, footwear, bike, jewelry, pet, sporting goods and home decor. The solution enables retailers to manage inventory... Read More
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Lightspeed Retail is a cloud-based point of sale (POS) solution that is suitable for retailers in industries such as apparel, footwear, bike, jewelry, pet, sporting goods and home decor. The solution enables retailers to manage inventory... Read More
 
 
Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
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Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read More
 
 
AIMsi is a secure end-to-end point of sale (POS) business solution that can be used in any retail environment. This retail management solution features customizable menus and screens, inventory management, complete POS activity and... Read More
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AIMsi is a secure end-to-end point of sale (POS) business solution that can be used in any retail environment. This retail management solution features customizable menus and screens, inventory management, complete POS activity and... Read More
 
 
Retail Pro is a specialty retail management software platform featuring POS, replenishment, inventory management, promotions, customer management, back office, performance, and KPI reporting capabilities. Retailers can use Retail... Read More
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Retail Pro is a specialty retail management software platform featuring POS, replenishment, inventory management, promotions, customer management, back office, performance, and KPI reporting capabilities. Retailers can use Retail... Read More
 
 
GiftLogic offers retailers a complete point of sale solution from initial transaction to reporting and analysis. Retailers can choose from basic and pro packages available in GiftLogic in order to build a POS system that meets their... Read More
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GiftLogic offers retailers a complete point of sale solution from initial transaction to reporting and analysis. Retailers can choose from basic and pro packages available in GiftLogic in order to build a POS system that meets their... Read More

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iVend Retail is an omnichannel retail management solution that helps businesses manage various aspects of a brick and mortar retail shop and e-commerce store. It covers from point-of-sale (POS) to back office to head office operations.... Read More
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iVend Retail is an omnichannel retail management solution that helps businesses manage various aspects of a brick and mortar retail shop and e-commerce store. It covers from point-of-sale (POS) to back office to head office operations.... Read More
 
 
Agiliron cloud-based point-of-sale (POS) solution is designed to serve both in-store and mobile businesses as well as online sales channels. The system offers a host of features that work in tandem with the point-of-sale solution,... Read More
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Agiliron cloud-based point-of-sale (POS) solution is designed to serve both in-store and mobile businesses as well as online sales channels. The system offers a host of features that work in tandem with the point-of-sale solution,... Read More
 
 
Hippos is a cloud-based point of sale (POS) solution designed for cafes, bakeries, quick and full-service restaurants, food trucks and casual dining services. Features include inventory management, ingredient tracking, user security... Read More
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Hippos is a cloud-based point of sale (POS) solution designed for cafes, bakeries, quick and full-service restaurants, food trucks and casual dining services. Features include inventory management, ingredient tracking, user security... Read More
 
 
IndicaOnline is a cloud-based point-of-sale (POS) solution that helps users process transactions and manage daily operations for medical marijuana businesses and dispensaries. Key features include patient and physician verification,... Read More
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IndicaOnline is a cloud-based point-of-sale (POS) solution that helps users process transactions and manage daily operations for medical marijuana businesses and dispensaries. Key features include patient and physician verification,... Read More
 
 
Jane Technologies offers a fully integrated turnkey, e-commerce solution.  By integrating with every industry POS system, Jane allows consumers to view and order products in real time before traveling to their local dispensary, allowing... Read More
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Jane Technologies offers a fully integrated turnkey, e-commerce solution.  By integrating with every industry POS system, Jane allows consumers to view and order products in real time before traveling to their local dispensary, allowing... Read More

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LS Nav is a retail management system consisting of point of sale (POS) and enterprise resource planning (ERP). Key features include inventory management, customer management, retail accounting, e-commerce, warehouse management and... Read More
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LS Nav is a retail management system consisting of point of sale (POS) and enterprise resource planning (ERP). Key features include inventory management, customer management, retail accounting, e-commerce, warehouse management and... Read More
 
 
Cashier Live is a cloud-based point of sale program that helps store owners and managers run their businesses on multiple devices. The solution provides automatic backup, accounting tools and reporting features. Retailers are able... Read More
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Cashier Live is a cloud-based point of sale program that helps store owners and managers run their businesses on multiple devices. The solution provides automatic backup, accounting tools and reporting features. Retailers are able... Read More
 
 
CannaPoint is a retail and production management solution built for cannabis dispensaries. Key features include job cost analysis, inventory, point of sale (POS), production control and state reporting. CannaPoint enables employees... Read More
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CannaPoint is a retail and production management solution built for cannabis dispensaries. Key features include job cost analysis, inventory, point of sale (POS), production control and state reporting. CannaPoint enables employees... Read More
 
 
Cova Dispensary POS is a point of sale system designed for cannabis dispensaries of all sizes. The application offers a touchscreen interface for tablet devices, inventory management, reporting features and more. Because Cova Dispensary... Read More
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Cova Dispensary POS is a point of sale system designed for cannabis dispensaries of all sizes. The application offers a touchscreen interface for tablet devices, inventory management, reporting features and more. Because Cova Dispensary... Read More
 
 
Greenline is a cloud-based retail management solution that allows cannabis dispensaries to manage their point of sale activities. Key features include inventory management, POS registers, sales tracking, reporting and compliance auditing. The... Read More
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Greenline is a cloud-based retail management solution that allows cannabis dispensaries to manage their point of sale activities. Key features include inventory management, POS registers, sales tracking, reporting and compliance auditing. The... Read More

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QuickBooks POS is a retail point of sale system suitable for various small businesses such as clothing and shoe stores, small franchises, sporting goods stores and gift shops. It offers inventory and customer management tools, merchandise... Read More
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QuickBooks POS is a retail point of sale system suitable for various small businesses such as clothing and shoe stores, small franchises, sporting goods stores and gift shops. It offers inventory and customer management tools, merchandise... Read More
 
 
CashFootprint is a retail management solution that offers point of sale (POS), inventory management, customer management, loyalty programs and reporting. The solution helps small and midsize businesses organize and automate retail... Read More
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CashFootprint is a retail management solution that offers point of sale (POS), inventory management, customer management, loyalty programs and reporting. The solution helps small and midsize businesses organize and automate retail... Read More
 
 
GoFrugal POS is a hybrid point of sale (POS) solution that helps retailers across various industries, to manage their distribution and billing routines and automate financial transactions. The solution can be deployed either on-premise... Read More
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GoFrugal POS is a hybrid point of sale (POS) solution that helps retailers across various industries, to manage their distribution and billing routines and automate financial transactions. The solution can be deployed either on-premise... Read More
 
 
Mi9 Retail is a retail management solution suitable for businesses in a variety of industries. Key features include point of sale (POS), inventory management, analytics, e-commerce and order management. Mi9 Retail can be used on fixed... Read More
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Mi9 Retail is a retail management solution suitable for businesses in a variety of industries. Key features include point of sale (POS), inventory management, analytics, e-commerce and order management. Mi9 Retail can be used on fixed... Read More
 
 
Paladin POS is an on-premise point-of-sale (POS) solution designed for small and midsize businesses. It offers return order management, checkout, discount management and customer loyalty program management functionalities within a... Read More
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Paladin POS is an on-premise point-of-sale (POS) solution designed for small and midsize businesses. It offers return order management, checkout, discount management and customer loyalty program management functionalities within a... Read More
 

Buyer's Guide

by Agnes Stubbs,

Last Updated: January 1, 2019


Being heavily regulated, the cannabis retail industry poses a number of challenges for the owners of medical or recreational dispensaries.

The sheer number of regulatory compliance related to security, age restrictions, documentation, packaging and staff protocols make it highly likely that a dispensary owner may miss some rule. This will result in hefty fines or even having your dispensary license revoked.

Dispensary software records all the necessary information digitally, so that you can easily manage industry compliance. It will also ensure that you have access to the required documents and reports during a compliance audit.

To help dispensary owners find the right software for their dispensary, we've written this buyer's guide that covers all the necessary information. Read on to find out about the features of this software, its benefits and market trends that owners should know and follow.

In this guide, we'll cover:

What Is Dispensary Software?
Common Features of Dispensary Software
What Type of Buyer are You?
Market Trends to Understand

What Is Dispensary Software?

The demands of a cannabis dispensary are significantly different from those of a general retail business. For this reason, a regular retail management solution will not suffice for a cannabis dispensary. As a dispensary owner or manager, you need dedicated dispensary software to manage your operations.

Dispensary software is a retail management and point-of-sale (POS) solution tailored to the needs of a cannabis retail business. This type of software helps dispensary owners do the following:

  • Manage inventory for single or multilocation store dispensaries.
  • Record data, such as age of the buyer and the quantity of purchase, to prepare reports at the time of audit checks.
  • Schedule store employees and manage shift timings.
  • Manage dispatch and delivery of inventory and products.
  • Store transaction data to create real-time financial reports such as profits, losses and expenses.

dashboard in cannabis dispensary POS

Reporting dashboard in cannabis dispensary POS tool, Cova (Source)

Common Features of Dispensary Software

In this section, we've covered the key software features that a dispensary software buyer should be aware of at the time of purchase. Thoroughly understand the usefulness of these features in your business to select the right dispensary software.

Compliance management

Get alerts when transactions don't comply with the rules regarding customer age, purchase limits or transaction time (i.e., whether the transaction was made during work hours or not).

Reporting

Get business reports on sales volume, profit and loss and general accounting. This feature also generates specific reports on compliance management that are important during compliance audits.

Inventory management

Track the location and status of your inventory in real time. Get real-time insights on stock levels and set alerts for these, so you can reorder before running out.

Customer management

Keep a record of your customers and their purchase quantities to avoid selling more than the permitted limit. You can store details, such as name, age and location, and use them to flag the store operator if they exceed the limit at any time.

Customer loyalty program

Reduce your customer attrition rate with a customer loyalty program. Offer benefits and rewards to encourage repeat purchases.

Multilocation support

Manage your inventory, staff and customers across multiple dispensary locations. This feature is beneficial for dispensary owners who run both medical and recreational dispensaries.

What Type of Buyer Are You?

When purchasing a dispensary software solution, you need to understand all the necessary compliance requirements so you can be sure to choose a solution that adheres to them. In this section, we're covering three common types of dispensary businesses and the compliance challenges for each type and the software features that address them.

Medical dispensary. The first thing you need to ensure is that all your buyers have a valid medical cannabis card. In addition, many medical marijuana dispensaries are also regulated by the Health Insurance Portability and Accountability Act (HIPAA). Such dispensaries should invest in software that is compliant with HIPAA standards.

Recreational dispensary. These are unlike medical dispensaries, where only medical cannabis cardholders are authorized to purchase products. Recreational dispensaries should conduct the initial eligibility verification process, such as age and quantity of purchase, on their own. For this reason, they need a solution that records customer details such as name and age, quantity of purchase and details of a state-issued ID card, such as a driver's license.

Medical and recreational dispensaries. If you operate both recreational and medical dispensaries, you'll have to manage various compliance rules for different customers. For instance, the legal minimum age for a medical marijuana buyer (in states where purchases are legal) is 18 years old, but for a recreational marijuana buyer it's 21 years old.

The THC content of cannabis products is also different for each type of dispensary. For this reason, dispensary software buyers who operate both medical and recreational dispensaries need a solution with procurement and selling features such as barcode scanning, inventory management and customer management.

Market Trends to Understand

The cannabis retail industry is evolving quickly, and so is the dispensary software space. To keep up with all the advancements in this space, you should be aware of the following market trends:

Fraud detection to be integral in dispensary software. Employee-led theft and fraudulent activities have legal and financial consequences for the business. A recent such incident at a Colorado dispensary resulted in a loss of about $10,000 to the business.

As a result, dispensary software vendors are including fraud detection features such as cash drawer management and employee access permissions. Some software vendors also offer theft-detection in their inventory management module, which alerts dispensary owners about discrepancies in stock levels.

Based on our estimates, vendors will continue to develop and enhance their fraud management functionality to be an exclusive offering in their solutions by 2020-2022.

Dispatching to be an important integration. Integrations with dispatching and fleet management systems help dispensaries track the movement of their products from the farm to the warehouse, and warehouse to dispensary. As cannabis retail businesses grow and sales volume increases—increasing the number of shipments—we expect to see an increase in the demand for dispatching functionality by 2020-2025.

Real-time compliance management to see wider adoption. Marijuana Enforcement Tracking Reporting and Compliance (METRC) integration lets dispensaries share their real-time compliance data with the government's regulatory agencies. This integration saves time and effort for managing regulatory compliance. As it gains popularity and investor funding, we believe that it will see increased adoption by 2020.

Marijuana industry to become e-commerce-savvy. With rapid growth in the number of online buyers, e-commerce is becoming increasingly important for a dispensary. We anticipate an increasing demand for e-commerce integration in dispensary software by 2020.

 

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