Imagine you are a business owner, and there is a situation whereby customers are angry, employees are lost, and there is an inventory shortage – all due to a slow or faulty checkout system. Everything from your profits to the reputation of your brand is suffering. The answer to all of these problems is a reliable Point of Sale (POS) system.
With that said, the great news is that it is not all gloomy. A good POS system not only allows for easy transactions but controls sales, and manages inventory, and customer data. In this guide, we will also cover the best POS systems, what to consider for your business, and how to choose the most effective one.
What is a POS System?
Before we delve into the best POS systems, it is important we first understand what a POS system is. A point-of-sale system is the technology that allows businesses to complete sales transactions. It features hardware such as registers, card readers, and receipt printers.
What Features Should You Consider in A POS Systems for Your Restaurant?
While selecting a POS system for your business, there are critical aspects that must come to focus. Let’s discuss in detail what to look.
Easy To Understand and Use
Your staff should have little to no trouble understanding the system. The more time they spend trying to figure out how the system works, the less time they focus on customers. An ideal POS system has a straightforward interface that is very easy to get accustomed to.
Variety of Payment Options
Your restaurant POS system should have a wide range of payment options. Credit and debit cards and mobile payments using Apple Pay or Cash should all be supported. The more methods of payment that are supported, the happier your customers will probably be.
Management of Stock and Inventory
A built-in stock and inventory management capability is a must-have feature. This enables you to keep track of stock, see the most popular products, as well as automate orders when stock depletes. If your business is reliant on inventory, such as a grocery store, this feature is extremely beneficial.
Reporting and Analytics
Analytics and reporting encompass real-time information about sales, profit margins, and customer behavior. Such information can help one to make important business decisions. The reporting section of the POS system must provide sharp yet concise reports on business operations for comparative analysis.
Customer Relationship Management (CRM)
Managing customer data is a central feature that any modern POS system should provide. It includes analyzing a client’s purchasing habits, providing marketing campaigns, and managing promotional offers and loyalty schemes. This information can prove as a key indicator of customer loyalty and sales activity.
Security
Handling payment information is extremely sensitive, so security is always a major concern. Your POS system must comply with PCI-DSS and encryption standards will keep client information safe.
Integration Capabilities
The POS system should integrate with any accounting, payroll, or marketing software that your business utilizes. This will eliminate the need for extensive data entry while ensuring all aspects of the business are aligned.
The Best POS Systems for Business
Now that we are aware of the important features, we can analyze and shortlist some of the best POS systems out there today. We will consider several systems for various business types.
Square POS (Ideal for Small Enterprises)
Square is a well-plenty POS system that is popular among small businesses. It is particularly known for its simple interface, low charges, and excellent customer service. Square would be a better fit for small retail stores, food trucks, and pop-up shops.
Key Features:
- A basic plan with additional features is available through paid subscriptions.
- Accepts all major credit cards and contactless payments.
- Includes tools for inventory monitoring and reporting.
- Customer management for loyalty programs is included.
- Works with accounting software such as Quickbooks.
Why Choose Square?
Square has a number of powerful features, which is why it is ideal for businesses looking for an easy-to-use POS system that doesn’t break the bank. This is specifically important for businesses that are just starting out or those that have limited budgets.
Shopify POS (Best for eCommerce and Retail)
Shopify is an eCommerce goliath, and its POS system is a smart option for any business that wants to sell products online as well as in a brick-and-mortar store. If you already have a Shopify store to sell, it works seamlessly with your existing setup and makes integration a lot smoother.
Key Features:
- Sell your products on multiple channels, both online and in the store.
- Automatic synchronization and inventory tracking in real-time.
- Reporting and analytics are more advanced.
- Customer profiles that help with personalized service and loyalty point rewards.
- Integration with Shopify’s eCommerce and other apps.
Why Pick Shopify POS?
Shopify POS is appropriate if you operate over the Internet as well as have a brick-and-mortar shop. It enables you to reconcile all your sales from one channel, thus effortlessly managing orders, inventory, and customer profiles.
Toast POS (Most Suitable for Restaurants)
Toast POS is crafted only for food service operators. It’s designed especially for restaurants, cafes, and bars. It eases the ordering, payment, and even staff control process.
Key Features:
- Tableside ordering for quick payment collection.
- Menu management and item-level reporting.
- Employee management features such as scheduling and payroll.
- Ingredient level inventory tracking control.
- Integration with online ordering and delivery.
Why Pick Toast
Toast allows you to run and manage business operations for restaurants and cafes easily. Its features were tailored to be used in a fast-paced work environment in food service and have the agility to adapt to change.
Lightspeed POS (Most Suitable for Businesses with Multiple Locations)
Lightspeed is an advanced POS system for businesses with multiple locations or other complex requirements. It’s suitable for a retailer who needs advanced reporting, inventory control, and customer insights.
Key Features:
- Multi-store management with real-time syncing.
- Detailed stocktaking with stock-level notifications.
- Customizable reports and analytics.
- Management of employees.
- Connections with different eCommerce and accounting systems.
Why Choose Lightspeed?
It is one of the best choices when a business operates over a single location because one can run the business from the comfort of one screen and manage the sales and stock levels from every location.
Vend POS (Ideal for Retail Stores)
Vend is the retail business’s best friend. It’s a cloud-based POS system that is incredibly easy to work with offers real-time reporting, and excels at inventory management.
Key Features:
- Cloud-based with offline availability.
- Inventory updates with stock levels management.
- Customer-related and loyalty programs management.
- Sales performance and product performance reporting tools.
- Integration with other accounting systems and eCommerce.
Why Choose Vend
Vend suits perfectly for small to mid-sized retail businesses that look for a powerful but easy-to-use POS system. Its strong inventory management system is perfect for stores with a high number of different products.
Clover POS (Best Flexible POS)
Clover is an advanced POS system. Its highly customizable software can accommodate a myriad of use cases, including small cafes and large retail outlets. Its versatility is only surpassed by sales, where Clover comes out on top.
Key Features:
- Wide range of hardware options (including handheld devices)
- Customizable software with a large app marketplace
- Managing payments, customers, and inventory
- Employee management
- Reporting and sales statistics analysis
Why Choose Clover
Clover comes capped with so much flexibility that business owners of all trades have been able to find solace in its setup. So, if you are looking for a customized POS system designed specifically for your needs, Clover is perfect for you.
How to Choose the Right POS Systems for Your Business
What will the POS system aid you in doing? This is certainly a broad question with no single answer; therefore, you may want to explore some key areas:
- Type of Business: Make sure the POS system you choose fits the needs of your industry (e.g., retail, restaurant, eCommerce)
- Budget: Before anything else, any research will have to be based on how much you are willing to spend. Keep in mind some POS systems have free plans, while others either charge a monthly fee or take a portion of revenue from each sale.
Avoid any commitments and try out the system first. A majority of POS providers have free trials, which allows you to check if it is user-friendly for both you and the people who work for you.
Conclusion
A business POS system goes beyond a cash register; it is an investment that helps scale business, improve customer service, and improve the overall processes. No matter if you own a small retail shop, a busy restaurant, or even an expanding online store, the right POS system will solve all the problems.
We offer a comprehensive range of wireless terminals of all kinds from all brands. If you need to learn more or are skeptical if you should go for it or not, we offer free trials of 7 days that let you assess your situation well and make an informed decision. If you are pumped to try it for free, head to our website and contact us right away and we will get back to you right away.