Cannabis Software Company Tracks Dispensary Losses

NEW YORK (MainStreet) — As the CEO of three marijuana dispensaries and a grow facility in Colorado called Gaia, Meg Sanders has a lot of reporting to do.

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"There are operating procedures, daily check lists and daily reporting," Sanders told MainStreet. "We monitor every sale and that data must be assessed daily."

One of the tools the former compliance manager uses is MJ Freeway Software Solutions, a cannabis dispensary software company.

"The number one reason we use MJ Freeway is because they are web based so I can access store data remotely from anywhere in the world on my iPad or iPhone and that's important to me," Sanders said. "But we have to double data entry a lot of information so eventually we will write our own software because we need feature rich reporting."

MJFreeway.com has three different modules depending on type of cannabis business. GrowTracker is for cultivators, MixTracker is for processors and manufacturers, while GramTracker is for retail operations, inventory and point of sale transactions.

Pricing includes a one-time startup and monthly fee, which can range from $149 to $249 per month.

"The tiers are based on different feature sets and offer unlimited transactions, unlimited number of patients or customers in the system and unlimited number of managers, employees and bud tenders," said Amy Poinsett, co-founder and chief executive officer with MJ Freeway.

The company also offers state compliance tools.

"If the state asks for a certain label, we can build it into the label template so that it can be printed and put on the package," said Jessica Billingsley, co-founder and chief operating officer with MJ Freeway.

Billingsley was an early investor in a Boulder-based medical marijuana dispensary in 2009. When a bill passed in Colorado that disallowed out-of-state investors from involvement in cannabis companies, Billingsley sold her interest in the dispensary and went to market with Poinsett, launching MJ Freeway in 2010.

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