Leading Cannabis Retail Platform Green Bits Enters Illinois in the Wake of the Opening of the Adult-Use Market

SAN JOSE, Calif., Feb. 26, 2020 /PRNewswire/ -- Green Bits, a leading cannabis retail platform, announced today that it has taken root in Illinois, the latest state to establish an adult-use market, one that is projected to grow to be the second-largest in the nation.

Over the last several years, Green Bits has amassed a track record of helping dispensaries and cannabis retailers grow and thrive – all while navigating complex regulations that vary by state. Green Bits software does everything from helping stores increase traffic and offer desirable products to leverage data to understand their customers and spot trends.  

"Cannabis retailers face a myriad of challenges, whether they concern managing inventory and transactions or compliance with state rules," Green Bits CEO Barry Saik said. "The Green Bits platform is reliable, robust and built to help small- and larger-scale cannabis retailers solve these problems and gather insights to help them run and grow their businesses and outperform their competitors. We are thrilled to make our platform available to retailers across Illinois."

The Green Bits platform helps retailers efficiently gather and track a wide range of data that shops need to know to manage and understand their business and comply with state and local laws. For example, Green Bits helps retailers track transactions and other back-office information to satisfy track-and-trace rules. The software also verifies ages, enforces purchase limits and manages prescriptions, among many other bits of information. For those fields of data that are required to be provided to the state for compliance purposes, Green Bits works with state-side platforms to convey the data that retailers collect at the point of sale.

Illinois became the eleventh U.S. state – and the second in the Midwest – to legalize the sale of adult-use cannabis on January 1, 2020. In the first month alone, Illinois sold $39.2 million worth of adult-use cannabis products.

Illinois is known as one of the most tightly regulated markets in the country, with seed-to-sale traceability requirements from the outset and limited licensing. Green Bits has substantial experience seamlessly integrating with BioTrackTHC, Illinois's traceability vendor, making it uniquely qualified to serve the state's budding market. Washington state, where Green Bits services 65 percent of the market, launched its adult-use market using BioTrackTHC in 2014. Green Bits's automated compliance offering is credited with helping Washington state's market develop into the third largest in the country.

About Green Bits
Green Bits empowers more than 1,100 cannabis retail locations across 13 states – Alaska, California, Colorado, Illinois, Maine, Maryland, Massachusetts, Michigan, Montana, Nevada, Oklahoma, Oregon, and Washington state – with a safer, smarter, easier way to manage day-to-day operations and maximize store performance. Their robust platform – with automated state-by-state compliance, point of sale, inventory control, and personalized insights – enables owners, managers, and budtenders to run, protect, and grow their businesses with ease. Green Bits' point-of-sale platform has a $3.3 billion annual run rate. The company is headquartered in San Jose, California, and has an office in Portland, Oregon. Lean more at www.greenbits.com.

Media Contact: Emily Seeley, 415-517-7507, [email protected]

SOURCE Green Bits

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