Introduction
Modern retail businesses are moving away from clunky cash registers to modern technologies at a rapid pace, but almost half of single-store retail businesses are still using the manual methods. The problem with traditional systems is that not only are they difficult to use, the also take a lot of works hours for data input.
We have already covered the key features of POS systems and things to consider when buying one in detail in a separate post. This post covers some of the best POS systems currently available, including the ones designed specifically keeping needs of small and medium business in mind.
Why Use a POS System?
A POS management system provides businesses with a competitive advantage and allows them to establish authority and build stronger customer relationships. Compared to traditional cash registers and manual methods of managing transactions, modern POS systems offers many advantages including:
Easy to Use
Digital systems and touch screens are much easier to use than analog technologies and it does not take much time to learn a modern POS system with an intuitive interface.
Improved Efficiency
The right tools help employees do their work more efficiently and boost productivity. POS systems decrease checkout times and save time by use of barcode scanners and POS software.
More Payment Options
Customers moving away from cash and prefer businesses that offer them alternative payment methods. A POS system expands the payment capabilities of retail businesses and allow them to accept payments electronically, including chip-based EMV cards, NFC contactless payments and mobile wallets such as Apply Pay, Samsung Pay and Android Pay. More payment methods make it easier for customers to make payments and results in increased revenue.
Streamlined Inventory Management
The advanced inventory management functionalities of a POS system take guesswork out of the equation and makes it a lot easier to track inventory levels. This can save employees plenty or work hours each week that otherwise might have been spent on manually managing inventory.
More Accurate and Up-to-date
Since most POS systems are centralized, the information is accurate and up-to-date across the board. POS systems can also be integrated with a variety of other systems such as CRMs and email marketing solutions. This minimizes chances of data duplication and ensures consistent information across all systems.
Better Employee Management
Employee Management is an important element of a POS solution and allows teams to effortlessly schedule and clock in/out. Access control functionality ensures that only employees with authorization are able to access information and makes it easier to define access levels.
Simplified Accounting
Accounting becomes a lot easier when employees don’t have to sort through thousands of receipts and are able to directly import data to ERP system software. So the information is automatically updated across all the connected systems as they can connect directly to accounting software. Most POS systems can connect directly to accounting and bookkeeping software so the information is automatically updated across all the connected systems.
Reporting
Reporting tools make it easier for teams to keep track of sales, expenses, employee performance and more by providing them with real-time and up-to-date information. The information is formatted so it can be understood easily, while cloud-based POS systems allow accessing reports from anywhere, using any device.
POS systems provide all the important information needed to make informed decisions, including total sales, revenue, profit, stock turnover and top-selling products. Clear visibility into performance allows teams to identify areas that need improvement and above average employees.
Better, Faster Services
Customers expect faster services and prefer retail businesses that don’t make them wait in long queues. Queues can be frustrating and customers might decide to put things back and leave, which hurts sales and profits. POS solutions speed up the checkout process and minimize the manual work required in the checkout process.
Detailed Receipts
POS systems can use detailed inventory data to provide customers with detailed receipts that offer much more information than just the amount and date of sale. Since the information is pulled from a system, employees don’t have to spend time manually entering detailed information such as item description, color and savings. Some POS systems even allow customizing receipts and print coupons, return policy, promotional messages or a custom message.
Top 10 POS Systems for Retail Businesses
DEAR POS
Evolve, manage, analyze, and automate every time-consuming task of your business with multi-module DEAR inventory management software. Streamlining tedious processes and gaining deep insight into comprehensive data and information. It’s best used in retail, wholesale, distribution, food manufacturing, brewing, health & Supplements, and many more. DEAR POS can be used on iPad, Android, PC & Mac.
Key features:
- Inventory management
- Manufacturing
- eCommerce
- Purchasing
- Accounting
- B2B Portal
- Point of Sales ( POS)
- Warehouse management
- Material planning
ShopKeep
The iPad-based POS solution targets quick-serve businesses such as restaurants, retail outlets, franchises and bars. It provides them with the tools they need to manage bookings, registrations, employees, payments and marketing. The easy-to-use touch screen interface makes things easier for users, while the built-in register helps keep track of payments.
The system serves as a one-stop solution that includes software, credit-card processing and payment hardware. Pricing is available by quote and the simple pricing plan includes all the features including unlimited users and inventory items.
Key features
- Real-time analytics
- Built-in register
- Split payments
- Inventory management
- iPad-based
- Unlimited inventory items
- Unlimited users
- 24/7/365 support
- Supports Credit Card and mobile payments
- Easy returns and refunds
- Time clock
- User permissions
- Staff management
- Real-time reporting and notifications
- Email marketing and customer loyalty program
- Online directory listings
- Integration with other systems including QuickBooks and MailChimp
Lightspeed POS
The solution is designed for small and medium sized retailers and restaurants and helps them achieve their big ambitions. Pricing for retail and restaurant POS starts from $69/month (billed annually) and depends on the features, additional registers and premium add-ons.
Key features
- Retail POS features
- Inventory management
- Multiple product variants
- Reporting and analytics
- Real-time data
- Integration with accounting systems
- Employee tracking
- Multi-location
- Centralized purchasing and customer data
- EMV-compatible, PCI Compliant
- Mobile payments
- Customer management
- 24/7 phone support
- Chat and email support
- Restaurant POS features
- Inventory management
- Adjustable floorplan
- Staff profiles
- Self-order menu
- Offline mode, remote access
- Employee clock in/out
- Multi-store
- Reporting
- Customer management
pcAmerica Cash Register
Although the name suggests that the solution has something to do with cash, it’s a POS solution made for a wide range of retail businesses that prefer a more traditional look and feel. The provider offers both software and hardware solutions as well as complete systems for businesses. The software is available in two versions i.e. pro and enterprise and the pricing depends on the features users want.
Key features
- Inventory management
- Back office reporting
- Employee management
- Integrated payment
- 24/7/365 support
- Integration with QuickBooks and Microsoft Access
- PO generation
- Multi-register support per location
- Loyalty programs
- Advanced reporting
- Financial summaries
- Data backups
Square POS
The easy-to-use POS solution is built for faster checkout and allows businesses to quickly add employees, locations and connect with other systems they are already using. Square POS is a great option for businesses who need a complete solution and don’t want to piece together everything themselves.
The software itself is free-to-use without any setup fees. Businesses only have to pay when they receive a payment @ 2.6% + 10¢. Custom plans area also available for businesses that generate more than $250,000 in card sales.
Key features
- Supports Credit Card and Apple/Google Pay
- Transparent pricing
- Payment protection
- Fraud prevention and account protection tools
- Customizable menus
- Order management
- Offline checkouts
- Customer directory
- Customized receipts
- Checkout hardware
- Reporting and insights
- In-app sales reporting
- Inventory management
- Low-stock notifications
- Location management
- Customization add-ons including Payroll, email marketing, loyalty programs and team management
- Can be integrated with a variety of apps, including QuickBooks, TaxJar and ShipStation
- APIs
QuickBooks POS
While most people know Intuit/QuickBooks because of its bookkeeping software, the provider also offers a POS solution designed for small and medium businesses. The software is suitable for businesses already using QuickBooks, do not want to pay recurring subscriptions and are looking for a one-time license. However, the perpetual license costs $1,200 (basic plan, without POS hardware), which might not be financially suitable for all small businesses (upfront cost is high).
Key features
- Inventory management and tracking
- Detailed sales reports
- QuickBooks Sync
- Credit/Debit card payments
- Customer management
- Basic/advance reporting (depends on the pricing plan)
- Employee and payroll
- Gift cards, rewards and loyalty programs
- Inventory transfer
- Multiple-stores
Shopify POS
The simple and intuitive POS solution comes with flexible devices, a smartphone app and 24/7 support. It is suitable for businesses looking for great e-commerce integrations and options for online sales channels. Customers can place their orders online and pick the products form a physical store. The solution works well for businesses selling via both online and in-store channels. Pricing starts from $29/month and increases according to the number of staff accounts, store locations and POS PINs.
Key features
- Credit card payments
- Custom payment types
- Partial payments
- Checkouts
- Custom discounts
- Store management
- PIN codes for individuals
- Employee time tracking
- Product collections and variants
- Multi-location inventory management
- Customer management
- Analytics
- Marketing, product reviews, Social media integration
- 24/7 support and migration tools
- Strong e-commerce integration support
Vend POS
Vend POS is worth considering if you want a POS system that integrates well with other software, including payment processing solutions. The cloud-based system is accessible from anywhere, using almost any device and also works in offline mode. Vend POS allows businesses to choose from a variety of payment solutions, including Credit/Debit cards, Apple Pay, PayPal, Commonwealth Bank and Square. Pricing for 1 outlet starts from $99/month, while advanced plans are also available for large businesses.
Key features
- Integrated payments
- iPad or web-based POS
- Offline mode
- Staff training
- E-commerce and multi-channel inventory management
- Real-time reporting
- Custom payment types and partial payments
- Mobile and contactless payments
- Customer management
- Employee performance management
- Add-ons including email marketing and staff scheduling
- 24/7 support
Clover POS
The user-friendly solution for small to medium restaurants comes with all the essentials and allows them to manage their staff, inventory and menus more effectively. Customizable software and flexible hardware can be deployed in very little time and businesses have the option of either using it as an on-premises solution or access the cloud-based services from a browser.
Clove POS integrates well with a variety of other solutions including QuickBooks, MailChimp and Shopify. Clover also offers solutions for retail businesses, service businesses, full and quick service restaurants.
Key features
- Inventory management
- Employee management
- Fully customizable
- Payment-ready systems
- Upgradable with accessories
- Customers insights and engagement
- Shift scheduling and management
- Customer feedback
- Reporting
- Gift cards
- Virtual terminal
- Finance solutions
Bindo POS
The iPad-based POS solution works well for a variety of small and medium businesses and comes with a clean, uncluttered interface and straight forward pricing plans. However, its integration support is rather limited and it might not be a good option for retail and restaurant businesses that need 24/7 support.
But it’s still a good option for small businesses that don’t care much about integrating their POS system with a lot of third-party apps. Pricing is available by quote and depends on the nature of a business.
Key features
- Online dashboard
- Inventory management
- Reward programs
- Detailed metrics and analytics
- Online selling
- Credit card processing, PCI compliant
- Register/card terminal
- Customer loyalty program
- PO management
- Mobile POS
- Time clock
- Multistore management
- Apple Pay Support
- EMV-capable
- API and QuickBooks integration
TouchBistro
The Hybrid iPad POS system for restaurants is designed to improve service levels and sales and help the management make more informed business decisions. The provider offers both software and hardware plans, which start from $105/month (software plus hardware) and $69/month (software only). Pricing depends on the number of licenses as all plans are fully featured.
Key features
- Tableside ordering
- 24/7/365 support included with all plans
- Staff management
- Menu management
- Inventory management
- Customer management
- Payment processing integration
- Reporting and analytics
- Table management
- Add-ons for extending the functionality
- Digital menu boards
- Online ordering integration
- Kitchen display system
GoFrugal POS
The hybrid POS system is available as an on-premises as well as cloud-hosted solution and helps retail businesses effectively manage financial transactions, billing routines and other retail operations. Different plans are offered based on the type of business i.e. retail, restaurant and distribution, while customized solutions are also available for a variety of other business sectors.
Key features
- Variety of solutions for different sectors
- 24/7 support, self-service, voice and chat
- Plenty of learning resources
- Notification service
- Smart Reporting
- Easy ERP and POS integrations
- Open API
- Hybrid architecture
- Easy GST returns filing
- Frictionless onboarding
- Quick implementation
- Cloud data backups
- Strong integration support