Top Digital Services And Software Solutions For Dispensaries

The number of dispensaries in the U.S. has grown dramatically since 2016, and the range of products sold in these establishments continues to expand. Just like any other customer-facing business, dispensaries rely on multiple business services, including payment processing and different types of business management software. The following are some of the top services that dispensary owners rely on.

Payment Processing

Due to differences in the legal status of products from state to state, major credit card companies may not provide credit card processing for dispensaries. This can pose a challenge for business owners whose customers rely on the convenience of credit and other card-based payment systems. A point of banking system can serve as an alternative to credit card processing for dispensaries. This type of dispensary merchant service allows users to withdraw funds digitally and use those funds to pay for their products. The customer can then receive cash back in change. To learn more about payment processing, check out the following options for a dispensary merchant account.

Inventory Management

As dispensary owners grow their business, inventory management becomes increasingly important. Inventory management software can help business owners know exactly what they have and where it's located at all times. The right software can help owners make the best decisions about what and when to order, and it can also provide valuable data about what products are providing the best return on investment.

Compliance Management

Compliance with state and federal regulations is crucial to dispensary owners who hope to stay in business. Dispensaries that offer both medical and recreational products have an even greater challenge because they have to abide by different sets of regulations. Compliance management software can help by sending an alert whenever a transaction isn't following a rule. For example, an alert can be triggered if a transaction occurs without proof that the customer meets the minimum age requirement for a purchase or if a sale is made after work hours.

E-Commerce

Nowadays, more and more dispensaries are getting into e-commerce, and there are now some online-only dispensaries. By incorporating e-commerce, business owners can greatly expand their customer base without having to invest a lot more in overhead. There are several popular e-commerce solutions that are geared specifically to the needs of dispensaries. E-commerce software is often bundled with other business software, including inventory management, compliance management, and payment processing.

The modern dispensary has evolved rapidly in just a short period of time, and the most successful businesses take advantage of technology integration. The right digital solutions can provide a stress-free experience for both the customer and merchant, and they can also improve the bottom line.