Cannabis Cash Management Solutions
Are You a Cannabis Dispensary Manager?
CashTech Currency offers cash management solutions and dispensary management software systems for the CBD and cannabis dispensaries. Our wide selection of smart safes and cash recyclers integrated with cash management software will give you greater control over your dispensary’s cash.Book A Call to Learn More
Cannabis Cash Management Challenges
As a cannabis dispensary manager, you face high volumes of cash transactions, which can not only put your dispensary at greater risk of theft but can also become a logistical nightmare. Manual cash handling is associated with higher labor costs, human error, and wasted time.
In this cash-intensive industry, how a cannabis dispensary manages cash can have a significant impact on its profits. You need a multi-site cannabis cash management plan and the right cash management technology to secure your cash, streamline dispensary operations, and gain cash insights.
Cannabis Cash Management by the Numbers
Robbery Is a Real Risk in the Cannabis Industry
One in every two cannabis dispensaries has been robbed or burglarized, with the average theft accounting for $20,000 to $50,000 (Wharton School of Business Public Policy Initiative).
Cash Visibility Is Critical to Business Success
Understanding a company’s cash position is key to the success of a business and concerns relating to it are so prevalent that 70% of business leaders know their exact cash balance. (BDC Viewpoints Study).
High Cost of Cash Handlingy
The cost of cash handling can range on average from as low as 4.7% of cash to over 15% of cash (IHL Group).
CashTech Currency’s Cash Management Solutions for the Cannabis Sector
We oﬀer a variety of cash management solutions for the cannabis sector that enable dispensaries to keep their cash secure and gain real-time visibility into cash ﬂow. At the same time, automated cash handling will reduce the costs, time, and errors associated with manual cash handling.
Our heavy-duty smart safes and cash recyclers can be integrated with advanced cash management software that allows you to track cash movements, monitor/predict cash volumes, and view cash trends. Automated cash handling and cash insights provide an audit trail, so you know exactly how much cash you have on hand at all times. For multi-site dispensary managers, the dispensary management software system oﬀers a view into cash activity and smart safe vault contents per individual store, which is a game changer as it relates to managing a dispensary’s cash on hand and cash forecasting.
Data around the movement of cash from tills to vault holdings
Allows you to manage day-to-day operations, including cash balances, reconciliation, and deposit reporting
Insights into trends to forecast your cash needs and replenishments
Allows you to see cash on hand and what you need on a frequent basis to operate
A view into your available cash on hand and frequency of denomination usage
Lets you see your cash position and your most in-demand notes and coins, so you always have enough cash on hand
A view into the health of your device network
Immediately determine the health of your devices, remotely troubleshoot technical problems, and get back online faster
Insights and reports into your cash ordering information
Allows you to schedule and forecast pickups, as well as coin and note orders/replenishments
Audit trails and reconciliations based on user profiles
Allows you to determine who in your organization has been using the device, when, and for which purposes
Who Is Cannabis Cash Management Technology Right For?
Dispensaries with High-Volume Transactions
Automated cash management solutions are ideal for cannabis retailers that process large volumes of cash transactions in a day. The more physical cash you handle in a day, the higher your risks and costs.
If your clientele primarily pays in cash, it’s a good idea to have a cannabis cash management plan and automated solutions that can help you secure, track, and manage your cash.
Own multiple dispensaries? Consolidate your cash insights and gain more visibility over your cash. With a dispensary management software system, you’ll know exactly how much cash you have in each store.
If you’re located in an urban theft-heavy area, a dispensary management software system can help keep your dispensary, cash, and employees safe. Our heavy-duty smart safes and cash recyclers will ensure your cash is locked up securely on site to reduce your risk.
Book a Consultation Today
Take the ﬁrst step to greater cash control and visibility. Our cash management experts are available to help you choose and implement the right cannabis cash management solution and dispensary management software system.