CAN23SS01. The Cannabis Cash Conundrum: Best Practices for Success in Automating & Managing Your Cash, presented by Avivatech

Shawn Kruger, SVP of product and strategy of Avivatech, is excited to share a panel with Tammy Little, CEO and founder of FTC Group, an accounting and business consulting firm servicing businesses in the cannabis space. Using their partnership with Takoma Wellness, Washington D.C.'s family-owned and operated medical marijuana dispensary, as a case study, the panel will explain how “cash automation,” or leveraging technology to better count, secure and manage cash, has minimized risk, reduced costs and eased cash handling for both associates and managers. Additionally, they can share how to develop your cash automation strategy to save time and costs, ensuring the security and visibility of cash volumes in and across dispensaries and maintaining compliance with state and federal regulations.

Learning Objectives:

• Determine how to manage process compliance with tracking, reporting and balancing of net cash to POS receipts and cash payment tracking.
• Identify how to optimize cash flow to reduce banking fees and minimize armored security pickups and related costs.
• Analyze how leveraging technology can reduce the hours counting and recounting, often by over 70%, while informing operational decisions such as how much money should be maintained in a recycler on a Monday versus a Thursday and when armored transport of cash is necessary