SAN JOSE, Calif., June 26, 2019 /PRNewswire/ -- 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.
About Green Bits
Led by veterans of the software,
payments and commerce industries, Green Bits (www.greenbits.com)
serves over 1,000 cannabis retailers across 13 states –
Alaska, Arizona, California, Colorado, Maine, Maryland, Massachusetts, Michigan, Montana, Nevada, Oklahoma, Oregon, and Washington State. With more than 85 employees,
Green Bits is headquartered in San Jose,
California, and has an office in Portland, Oregon.
Media Contact
Matthew Stone
mstone@tridentdmg.com
202-699-0569
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SOURCE Green Bits