Cannabis Interview – Flowhub
Inventory tracking is not a new problem in any industry, especially in the newly emerging cannabis industry. Selling and distributing so many different products and variations, while also dealing with a multitude of operational processes and keeping up with increasing demand, can certainly put a hinderance on the inventory tracking side of things.
Enters Flowhub, the leading inventory management and point-of-sale (POS) platform for cannabis dispensaries
We sat down with founder and CEO, Kyle Sherman, to learn how Flowhub is changing the game with inventory tracking, technology and innovative solutions for the cannabis industry.
What is Flowhub and how does it help dispensaries beyond simply being a POS system?
Flowhub: Flowhub is the leading inventory management and point-of-sale (POS) platform for cannabis dispensaries. Flowhub was the industry’s first API integrator with Metrc, the track and trace system used for enforcement and compliance of cannabis laws in most legal markets.
The Flowhub platform is custom built to give cannabis retailers the most intuitive, compliant and extensible solution to meet their individualized business needs.
With first-to-market mobile check-in and inventory management applications, Flowhub is empowering over 700 cannabis retailers to grow revenue, stay compliant and manage inventory to create a seamless experience for their customers.
Flowhub’s software and hardware integrates with dozens of other popular cannabis apps and services in the cannabis space, making retailers’ busy work disappear and allowing dispensary owners to customize their own software package to manage their business.
Flowhub is more than just a POS system; it is a platform that allows cannabis retailers to build and operate their dream dispensaries. Armed with powerful data insights and analytics, retailers are able to better understand their business, their consumer’s buying habits so that they can simplify operations and drive business growth.
Can you tell us a bit more about Flowhub’s Stash App and how it will help dispensaries?
Flowhub: We created the new mobile Stash App to solve one of our customer’s biggest and hardest challenges: inventory management. Inventory tracking for dispensaries is not a stationary process that can be done from a desktop computer — it needs to be mobile, just like the product.
The three main functions allow inventory managers to move product between rooms, transfer product across multiple store locations and easily audit inventory for confidence and accuracy in compliance reporting.
The first and only of its kind, the Stash App helps dispensaries streamline dispensary operations, maximize efficiency, and reduce inventory management cycles — all from the palm of their hand with our mobile NUG device.
It also integrates seamlessly with the rest of our platform — connecting the data from check in and point of sale to the back-of-house operations and compliance reporting — to serve as the central source of truth across multiple dispensary locations.
For example, Green Dragon, a cannabis enterprise with 12 locations in Colorado has been using the Stash App with the mobile NUG to drastically reduce the amount of time it takes to transfer inventory. What used to take them 60 min now takes 5 min, and they’ve been able to double their store locations since partnering with Flowhub.
What problems that cannabis dispensary owners face do Flowhub and the new Stash App help solve?
Flowhub: With hundreds of products and SKUs going through a dispensary each month, manually tracking data from a desktop and spreadsheets not only increases the chance for human error and discrepancies, but is also a major drain on business resources.
Traditional inventory management software is not designed to handle the level of detail that is required for proper cannabis inventory tracking.
This leaves cannabis retailers no choice but to track their inventory by either piecing together several workflows and tools or manually tracking and performing audits with pen and paper or spreadsheets. Not only are these methods time consuming, but they also increase the risk of compliance errors and discrepancies as well as internal theft.
Besides helping dispensary owners be successful, what is Flowhub’s larger mission?
Flowhub: As Flowhub’s founder & CEO, I am a founding board director and treasurer of the Cannabis Trade Federation, where the focus has been lobbying for passage of the STATES Act and building an inclusive industry. We believe this bipartisan bill is critical to raising transparency and regulatory needs for long-term industry growth.
Our team is a collection of cannabis advocates with genuine intentions, aiming to inspire dispensaries to dream big.
Flowhub was founded on the value of always advocating for our customers and we will continue to pursue innovative solutions and embrace the change and open mindedness that comes with this industry.
At the end of the day, what we do goes beyond selling software — we’re on a mission to bring widespread cannabis legalization to the world and to support our customer’s pursuit of the American dream.
What’s next for Flowhub?
Flowhub: We’re always working on something new at Flowhub! This industry is constantly evolving and we’re really focused on staying on top of market trends so that we can help dispensaries maximize their growth.
In addition to the Stash App, we have several big features and integrations with key ecosystem partners that we’ll be rolling out by the end of the year to continue to deliver a seamless retail experience for cannabis consumers.
Thanks for being a part of this platform and movement by doing this interview!
Flowhub: Absolutely! Thanks for featuring us!