POSaBIT announced the launch of POSaBIT Brands, a new software platform built specifically for cannabis producers and processors. POSaBIT Brands marks the Company's first major expansion beyond cannabis retail. Historically, POSaBIT has focused on serving dispensaries through its point of sale, payments, eCommerce and loyalty solutions. With the introduction of POSaBIT Brands, POSaBIT is now able to serve the other half of the $35B+ cannabis industry's supply chain: the brands, producers and processors who manufacture and distribute products.
Quick Intel
POSaBIT Brands expands POSaBIT into producer and processor segment, roughly 50% of cannabis market.
Platform includes real-time sales and inventory reporting, business intelligence, and VMI.
Leverages AI for data mapping, product matching, report generation, and inventory analysis.
Vendor Managed Inventory reduces out-of-stocks and simplifies reordering.
Universal product catalog flows directly into retailer POS and online menus.
Includes B2B ACH payments and custom reporting suite.
POSaBIT Brands provides cannabis producers and processors with a centralized platform to manage and grow their business. The product leverages new AI technology and includes real-time sales and inventory reporting, business intelligence tools, a centralized product catalog, vendor managed inventory (VMI), order building, data mapping, B2B ACH payments, and a robust suite of custom reports. The platform enables brands to see how products are performing across multiple retailers in real time, identify inventory issues before they become problems, analyze the effectiveness of discounts and promotions, and build stronger relationships with their retail partners. POSaBIT Brands also allows producers and processors to maintain a single, centralized product library across all retail locations, helping ensure cleaner data, more accurate reporting and a more consistent brand experience.
A core component of POSaBIT Brands is its Vendor Managed Inventory, or VMI, functionality. The platform allows producers and processors to build orders directly from live inventory data at participating retailers, reducing out-of-stocks, simplifying reordering and improving communication between brands and dispensaries. The backend of POSaBIT Brands is heavily supported by artificial intelligence, helping automate data mapping, product matching, report generation and inventory analysis. By leveraging AI, POSaBIT Brands can surface actionable insights and reduce many of the manual tasks that cannabis brands currently perform.
In addition, POSaBIT Brands includes a universal product catalog that is created, maintained, vetted and approved directly by producers and processors. That catalog can flow directly into a retailer's POSaBIT point of sale system and online menu, ensuring more accurate product information, cleaner data, fewer manual updates and a more consistent customer experience. By connecting brand-managed product data directly to the retailer, POSaBIT further strengthens its relationship with retailers while creating a more seamless connection between both sides of the cannabis supply chain.
Conclusion
As Ryan Hamlin, CEO and Co-founder of POSaBIT, stated: "POSaBIT has long been the leading technology platform for cannabis retailers, and now we are bringing that same level of innovation to producers and processors. POSaBIT Brands opens up roughly 50% of the cannabis market that we have never previously served. We already work with the vast majority of retailers in Washington State and a growing number across the country. By adding producers and processors to our platform, we have the opportunity to connect in real-time both sides of the cannabis ecosystem in a way no one else can."
Hamlin continued: "Historically, cannabis producers and processors have had very little real-time visibility into what is happening once their products reach store shelves. POSaBIT Brands changes that. We are giving brands access to real-time insights into sales, inventory, discounts, customer trends and retailer performance. It is a powerful new way for brands to make better decisions, improve operations and ultimately sell more products."
On VMI, Hamlin said: "VMI within POSaBIT Brands is a game changer. Instead of relying on spreadsheets, text messages and manual inventory checks, brands can now build smarter orders directly from real-time store data. That saves time for both the brand and the retailer, reduces missed sales opportunities and creates a much more efficient process."
On AI, Hamlin added: "We believe AI will play a major role in the future of POSaBIT's technology. POSaBIT Brands was built from the ground up with that in mind. The platform uses AI to help simplify complex workflows, organize large amounts of data and provide meaningful recommendations to our customers. This is not just another software product — it is a modern platform built for the future of the cannabis industry."
POSaBIT expects POSaBIT Brands to become an important new growth driver for the Company over the coming years.
ABOUT POSaBIT
POSaBIT is a FinTech, working exclusively within the cannabis industry. We provide a best-in-class Point-of-Sale solution and work with processing partners to provide a leading cashless payment solution for cannabis retailers. We work tirelessly to build better financial services and transaction methods for merchants. We bring cutting-edge software and technology to the cannabis industry so that all merchants can have a safe and compliant set of services to solve the problems of a cash-only industry.
TechIntelPro empowers B2B technology decision-makers with the latest industry trends, deep insights, leadership perspectives and actionable intelligence to drive both organizational and professional milestones—and thrive on the tech pulse.