Point Sale Systems come in all shapes and sizes. Learn the basics of point-of-sale systems and what features they offer.
The Importance of Point-of-Sale Systems for Every Business
Point-of-sale systems are the backbone of any business. They are a crucial part of the retail industry. Also, they provide a way to track inventory, record sales, and process payments. They are vital tool that helps to manage the basic operations of any business.
There are many different types of point-of-sale systems on the market. They vary in features, price, and complexity. It is essential to research which kind of system will work best for your business before making a purchase.
A POS system is essential to any retail business because it helps manage inventory, sales, and customer service operations. Without a POS system in place, these tasks would be challenging to do.
How to Evaluate the Best POS Terminal for Your Store
POS systems are used in many businesses and industries to help with the management of inventory and cash. They help with the daily tasks of a retail store or restaurant. Retailers and restaurants widely use these to process payments.
They come with a card reader, a vital part of the system that helps read the credit card data. Software providers are a huge part of the POS system industry. They provide solutions that make POS systems more efficient, easier to use, and better for business owners. Some software providers specialize in specific industries like restaurants or retail stores, making it easier for business owners to find what they need.
The best POS system providers offer a wide range of services and flexible pricing plans. These providers also support all kinds of POS terminal, including mobile devices and tablets.
Which POS System Fits Your Business Needs?
The point-of-sale system is a crucial component of any retail business. It is the software that handles transactions and manages inventory.
There are many different POS systems today, so deciding which one will work best for your business can be challenging. Here are some factors you should consider when making this decision:
How much money do you have to spend?
What kind of hardware will be required?
What type of transactions do you need to handle?
Here are some of the best choices conveniently laid out to help you decide;
The Best All-Around POS System for Small Businesses
Because of its low cost and simple software, Square is the most acceptable POS solution for most small businesses. This self-installing system includes POS choices tailored to general purpose, retail, restaurant, and appointment-based enterprises. Plus, each choice offers a free plan with limitless sales and items, an integrated online shop, and a cheap $60/month advanced plan.
Why choose ?
Square received a 4.48 out of 5 on our POS system assessment criteria. This user-friendly platform received the top grades for pricing from our retail and restaurant specialists on this list. Also, Square stood out from the competition due to its free basic POS without long-term commitments. It only faltered somewhat due to limits in its inventory capabilities and the availability of live customer assistance.
Square is the clear winner among free POS software, mobile POS applications, and iPad POS systems. Meanwhile, Square for Retail is the best retail POS, Square for Restaurants is the best food truck POS, and Square Appointments is the best salon and spa POS.
The Best Point-of-Sale System for Multichannel Retailers
Shopify POS is based on the immensely sophisticated Shopify eCommerce platform, making it a formidable tool for brick-and-mortar businesses with busy online stores. It is the finest POS for multichannel retailers since it stores all Shopify plans, sales, inventory, and customer data in one location.
Why choose ?
Shopify offers hardware rental programs, which are great for online companies selling at pop-up shops, seasonal enterprises, or those who want to test-drive Shopify POS. Furthermore, accessories like cash drawers, receipt and label printers, and barcode scanners are available.
Due to supply chain issues and shipment delays, Shopify’s proprietary card reader and popular Retail Kit are back-ordered and unavailable for purchase. Shopify anticipates that these goods will be available again in the third quarter of 2022. The hardware goods mentioned in the table above were in stock at the time of publication.
Do you want to learn more about the Shopify platform? Discover what makes Shopify the best eCommerce platform for small businesses. Also, discover how Shopify works and read our comprehensive Shopify POS review to better understand the available options.
The Best POS for Restaurant
Toast is a powerful cloud-based POS system designed exclusively for the restaurant sector. Small restaurants may start with Toast for no upfront cost and expand their POS presence as their companies develop, thanks to a free starter POS and pay-as-you-go hardware choices.
Why Choose ?
Toast’s comprehensive online ordering, delivery management, inventory, marketing, and personnel management solutions will help enterprise-level eateries. This is why we adore Toast for new restaurant openings.
This enormously functional POS is unsurprising as the highest-ranking restaurant-only POS on this list; it also constantly scores at the top of our guide to the best restaurant POS systems.
Toast only works with Toast-designed POS terminal. This may increase expenses, but these terminals have additional advantages. They are built to resist high-volume usage and to work in restaurant conditions with heat, steam, spills, and drops. Toast hardware can operate at temperatures greater and lower than iPads, and Toast routinely ranks first in our list of the finest kitchen display systems.
It is ideal for small food and beverage establishments.
TouchBistro is an iPad POS system intended exclusively for food and beverage enterprises, similar to Toast. It’s pretty simple to use. TouchBistro, on the other hand, is compatible with numerous payment processors, unlike Toast and Square, so businesses may search around for the lowest merchant payment processing rates or maintain their present processor when moving to TouchBistro.
Why Choose ?
TouchBistro works with iPads running iOS 13 or later. Depending on your payment processor, ensure your iPads have headphone ports because confident card readers require them. You should also consider whether your choice receipt printers utilize USB-C or lightning port connections and whether your chosen iPads have the necessary connectors. Bring your suitable hardware or purchase from TouchBistro at custom-quoted costs.
The Best Cash Discounting Restaurant POS
Lavu is a cloud-based iPad POS system built for food and beverage establishments. The only system in this tutorial lets you give a cash discount, which allows you to offer a discount for cash purchases that offset your credit card processing expenses. This function assists small businesses in transitioning from a cash-only operation to accepting digital payments without incurring additional fees.
Why choose ?
Lavu’s POS system is built around iPads. The Lavu website allows you to buy a wide range of POS devices, including iPads. Its hardware selections are generally quite reasonable compared to other merchant payment processing rates, and it gives hardware discounts to those who sign up for a three-year service commitment.
The Best POS for Complex Inventory Retailers
Lightspeed is a cloud-based POS that runs on iPads and includes powerful inventory management capabilities. Its retail software allows you to manage suppliers and orders from the POS dashboard, store supplier catalogs, and manage matrix product assortments and variations.
Why choose ?
In a world where systems like Square and Toast provide free baseline memberships, it might be difficult to compete just on price. On the other hand, Lightspeed provides a 14-day free trial, so you may experience it before you buy.
Like many others on this list, Lightspeed’s POS system is based on iPads. Lightspeed may also be operated from a desktop PC. Bring your appropriate hardware or purchase it from Lightspeed. Lightspeed also offers kits, tablet stands, cash drawers, barcode scanners, receipt and kitchen printers, and card readers at custom-quoted pricing.
Lightspeed Restaurant customers’ prices are more transparent. There are three subscription options to select from Essentials, Plus, and Pro. These fees include Lightspeed Payments enrollment; your rates may be higher if you pick a different processor. More information may be found in our Lightspeed Restaurant review.
What You Should Know About Selecting a POS System and How It
Selecting a POS system is a crucial decision for any retailer because it influences their ability to process payments and keep records. It should be chosen carefully based on features such as the number of transactions it can handle, its compatibility with other software, and whether or not it supports mobile devices.
There are so many to choose from, and they all have their advantages and disadvantages, also their merchant payment processing rates. It is essential to know what you want before you start looking to make the best decision for your needs. And that is what the list is made for. You can easily see what system works the best.