SAN DIEGO, Calif. — Proteus 420, an online enterprise resource planning (ERP) system for businesses in e-commerce, retail, healthcare, and highly regulated industries, including alcohol and cannabis, is helping cannabis businesses stay cost-efficient and profitable during a difficult economic climate. The independently-owned software company offers customized tracking tools to tackle loss prevention and navigate compliance in the cash-only industry.
“It’s critical for merchants to be proactive. By leveraging technology, they are better equipped to mitigate risk and safeguard inventory,” explained Dawne Morris, co-founder and Chief Marketing Officer at Proteus 420.
A 2022 survey by the National Retail Foundation estimates 65% of inventory loss is due to theft, a trend that is expected to continue with the rising cost of goods. Nearly half of the retail respondents also reported an increase in technology spending to combat these threats.
In the cannabis industry, along with a challenging regulatory environment, retail businesses are facing declining sales. Loss prevention is an area where dispensaries can protect their bottom line with a targeted approach and the right system in place.
“When choosing a software provider, we advise cannabis retailers to focus on systems that offer day-to-day support, emergency assistance, and can seamlessly monitor employees, cash, and inventory. Detailed reporting is crucial from a compliance perspective,” said Morris.
Already in 2023, Proteus 420 has seen an uptick in POS software requests, as many dispensary businesses move away from multi-year contracts with required add-ons to providers with tailored strategies and customer-forward relationships.
“As an independently-owned company we’re very much focused on our customer’s individual needs. Whether they’re a multi-state or multi-location operator, we create flexible, adaptable systems that can grow with them while handling market ebbs and flows,” stated David Morris, co-founder and Chief Technical Officer at Proteus 420.
Recently, Proteus 420 launched a new retail integration that allows dispensary merchants to connect with customers through their own branded mobile app, featuring robust marketing assets, including loyalty programs, SMS promotions, and cashless transaction features.
Co-founded by tech veterans Dawne and David Morris in 2008, Proteus 420 has devoted more than a decade to cannabis research and industry-specific application development.
Proteus 420 continues to enhance its technology offerings and is currently utilized by licensed operators in every legal U.S. market. For more information on Proteus 420, visit proteus420.com.
About Proteus 420
Established in 2008, Proteus 420 is an online enterprise resource planning (ERP) system for businesses in e-commerce, retail, healthcare, and highly regulated industries, including alcohol and cannabis. Headquartered in San Diego, California, Proteus 420 offers highly regulated industries a single source solution for their business operations. The company was co-founded by tech veterans David and Dawne Morris and consists of a team of successful and experienced programmers, developers, and business professionals. Proteus 420 specializes in customer management, point of sale, inventory management, e-commerce, accounting, document storage, grow management, and driver tracking. The innovative platform also provides built-in, state reporting for compliance with all the major reporting agencies. Proteus 420 is a validated software provider with METRC, and other state reporting systems. For more information, visit Proteus420.com.
