Green Bits, an industry-leading provider of cannabis retail software, has announced that it now operates in Oklahoma, offering dispensaries in the state point-of-sale, inventory management, and auto-compliance services. The cannabis sector is known for complex and changing regulations and this announcement comes as Oklahoma prepares to transition to a more disciplined marketplace.
“We are thrilled to help dispensaries flourish as Oklahoma advances to a more mature level of regulatory sophistication,” said Ben Curren, co-founder and CEO of Green Bits. “The Oklahoma marketplace, like all state cannabis marketplaces, will evolve. Green Bits supplies retailers with the tech infrastructure to adjust to those changes successfully.”
A bill signed into law in March will require Oklahoma dispensaries to comply with new packaging and labeling requirements and begin participating in a seed-to-sale tracking system. Green Bits helps cannabis businesses balance the competing demands of running an efficient store while complying with regulations and reporting requirements.
“Green Bits has been indispensable in getting our store off the ground,” said Danny Baker, owner of the Tulsa-based Bison Records Dispensary. “The platform has helped us make sales quickly, manage our inventory reliably, and report activity to the state consistently.”
Since its first sales in October 2018, Oklahoma’s cannabis sector has generated explosive growth. One estimate pegs Oklahoma’s medical cannabis market as having the potential for $150 million to $250 million in sales per year after the market is off the ground. But given that some state trade officials have estimated that only one-third of licensed cannabis businesses in Oklahoma have opened their doors, dispensaries face pressure to find an edge as hundreds of new businesses prepare to join the market.
“Everyone working in the cannabis sector knows that compliance can be a hassle,” said Cassi Doolittle, owner and manager of Fire Leaf, which has five locations in the Oklahoma City area. “Green Bits makes the process less of a headache so we can focus on other aspects of the business.”
“When you run a dispensary in this state, one thing that seems to be constant is that the industry is always changing,” added Samantha DiTata, owner of the Del City-based Cannabis Island Dispensary. “Green Bits helps us navigate that change by streamlining our inventory, retail, and compliance practices—allowing us to run an efficient and growing store.”
Green Bits technology is currently in over 1,000 stores across the country and in 2018 processed $2.7 billion in annual sales – or about one in every four dollars of cannabis sold in the U.S. The retail platform is purpose-built to serve the entire vertical of cannabis retailers, from large operators to mom-and-pop shops.
SOURCE Green Bits