POS Software

Technologies such as Point of Sale software benefits businesses and improves the shopper’s experience. POS software technology supports multichannel commerce, personalized advertisement, loyalty programs, and consumer analytics for better services. When businesses understand consumer behavior in a better way, they are able to provide integrated business-to-consumer (B2C) services. With hardware accelerations such as smartphones and tablets, retail businesses are in a position to provide the ultimate buying experience to their customers with the help of point of sale solutions. If your brick and mortar shop needs the best Point-of-Sale software, then explore the following list of widely used POS software generated by GoodFirms. 

What is POS software?

POS software is a set of applications that provides an easy interface for faster billing during checkout at retail outlets. POS system works as a billing processor and digital cash register. It increases business efficiency by storing customer transaction data, providing friendly payment options, and sales reporting. The payment service capabilities generated by cloud-based POS solutions have revolutionized the industries such as retail, hospitality, restaurant, and more. With the multichannel payment approach scoring high with today’s tech-savvy consumers, frictionless payment systems such as point of sale software are gaining popularity. POS is also used extensively for contactless payments in retail stores. 

How To Select The Best POS Software?

So, you have learned a lot about point-of-sale (POS) software. You have done the market research, you know what your business is, and now it is time to pick a POS system. Although the process may appear simple, you know one wrong choice can derail your goals, it can damage your budget. GoodFirms list of best POS software comes of great use here. Created with perpetual iterations, the list of best POS system software is continuously updated to include any new and promising entrants. Please go through the list, identify the core features, and all possible benefits to its use, compare the prices, check the reviews before settling on a final selection.

Show More
125 Software
List of The Best POS System | Best Point of Sale Software
FilterReset
Back IconBack
Filter Reset
Sort By Relevance
Popular Features
Select
Pricing Model
Select
Devices Supported
Select
Deployment
Select
Business Size
Select

List of The Best POS System | Best Point of Sale Software

Filter
Oversee POS
101

Oversee POS

POS software to increase your retail sales.

Whether you run a retail store or a restaurant, you should be using a POS system that does more than simply process transactions. Our Mobile App POS systems are specially designed and adapted for today’s independent business owner. Offering features such as a powerful accounting integration, easy ordering, Tracking order, detailed reporting dashboards, advanced purchase ordering... read more about Oversee POS

Visit website
N/A
Contact Vendor
Ambur POS
102

Ambur POS

AMBUR IS THE COMPLETE RESTAURANT POS SYSTEM

iPad POS software for restaurants and bars with detailed orders, permissions, detailed reports, payment processing, and Dropbox backup. Created by people in the restaurant and bar industry, Ambur POS will keep your business in the black (and out of the weeds). ... read more about Ambur POS

Visit website
N/A
$79/Month
posIPOS
103

posIPOS

Restaurant Point of Sale (POS) for iPad

posIPOS is a cloud-based iPad Point of Sale solution for small, medium and large restaurants, retail stores, coffee shops, bars, mobile kiosks, food trucks, beauty saloons, service providers, and more. It can accept credit card payments via the PayPal, iZettle, Authorize.Net, and BNG payment gateway services and corresponding EMV and magstripe card readers. With posIPOS, you can ring up sales even... read more about posIPOS

Visit website
30 Days
$19.90/Month
SalesMate Plus
104

SalesMate Plus

India's 1st GST Billing & POS Software with Smart Client and Plugin Technology Support

SalesMate Plus is India's 1st GST Billing & POS Software with Smart Client and Plugin Technology Support. This offline desktop software stores all the user information securely on the user's local computer keeping all information secure and preventing data tracking. SalesMate Plus provides a backup option to store all the data to the user's Google Drive so that no data is lost to a computer crash.... read more about SalesMate Plus

Visit website
60 Days
Contact Vendor
YumaPOS
105

YumaPOS

A REVOLUTIONARY ALL-IN-ONE POS SYSTEM

YumaPOS all in one cloud based point of sales system gives you a complete access to your cafe, fast food, takeaway restaurant - LIVE. Track real time orders, staff management, order tracking, delivery management, inventory notifications, live mobile reporting and more.... read more about YumaPOS

Visit website
N/A
Contact Vendor
SambaPOS
106

SambaPOS

Restaurant POS Software

SambaPOS is the ultimate restaurant POS software. Our advanced features provide you with the means to serve your valued customers in a practical, productive manner, all the while collecting data that can be used to make important business decisions.... read more about SambaPOS

Visit website
Available
Free version
COMCASH
107

COMCASH

A HIGHLY FUNCTIONAL RETAIL SYSTEM

COMCASH is a complete retail management system ideally suited for multi-channel and multi-location retailers. The software is cloud-based, allowing access to the administrative functions from anywhere on any device. COMCASH offers a true omnichannel experience for the consumer and a unified commerce platform for the retailer. The POS application is Windows-based allowing for great compatibility wi... read more about COMCASH

Visit website
Available
$125/Month
Openbravo
108

Openbravo

Accelerate your omnichannel journey

Openbravo is the global cloud POS and Retail Management software solution vendor for agile retailing. We help midsize and large businesses around the globe successfully manage their retail operations and embrace continuous change and innovation in today's fast-changing business environment.... read more about Openbravo

Visit website
1 Days
Contact Vendor
Eposxify
109

Eposxify

Your ultimate cloud pos

Eposxify POS software is the Perfect POS software to manage and run your retail business effectively. You will love the intuitive interface and tons of features eposxify offers. Thoughtfully designed point of sale software with real-time reporting and analytics report, inventory management, customer management, employee management, point of sale etc.... read more about Eposxify

Visit website
7 Days
$60/Month
Alpha EBM
110

Alpha EBM

Next Gen ERP for Smart Businesses

ALPHA EBM is one of the leading ERP Software brands from AlphaByte Computers, LLC. with over 19 years of experience, based in Dubai, UAE. Alpha EBM-ERP software is designed for enterprise level architecture for medium and large Companies focused on connecting customers, suppliers, machines and various areas of business operations with the power to support your growth ambitions. ... read more about Alpha EBM

Visit website
7 Days
Contact Vendor
Oliver POS
111

Oliver POS

A smart and simple integrated point of sale solution for WooCommerce.

Oliver POS is a powerful point of sale solution for WooCommerce, designed specifically for shop owners with online stores and brick and mortars. Oliver POS is always connected to your WooCommerce shop, so you never have to manually update or sync information ever again. Oliver POS is always in sync with: * WooCommerce Products * WooCommerce Product Inventory * WooCommerce Customers * WooCommer... read more about Oliver POS

Visit website
Available
Free version
WorrkBox POS
112

WorrkBox POS

A POS system to Improve your Business

An Easy to Use, Innovative, Smart Point of Sale Software. We provide easy and efficient methods that bring everything under your control. You can now run your store from anywhere at any time with our cloud POS.... read more about WorrkBox POS

Visit website
15 Days
$24/Month
IvyPlex
113

IvyPlex

The complete restaurant POS solution

IvyPlex is an Android POS solutions specially developed for restaurants and food courts. With Ivyplex, you can take orders, assign them to tables or takeaway/delivery, and instantly display the orders at Kitchen Display Systems (KDS), or print KOTs(Kitchen Order Tickets) in the kitchen, bar or wherever it needs to be produced. You can also easily handle variations in the ordered items and table... read more about IvyPlex

Visit website
N/A
Contact Vendor
AccountPe
114

AccountPe

Accounting Billing Software and POS

AccountPe is a complete GST enabled complete software solution for the Small and Medium level companies.The Application has been designed using the Industry experts’ input. The Application caters special feature of managing multiple companies under the same umbrella and diversified at multiple geographical location... read more about AccountPe

Visit website
30 Days
Contact Vendor
Cashier Live
115

Cashier Live

Run your store with smart POS software

We are committed to improving our product and providing excellent customer service to all of our users. Our customers can be confident that they're using the absolute latest in retail technology. Our web-based distribution allows for instant setup, easy installation, and automatic upgrades. Our low cost subscription model helps retailers save money, and we allow retailers to manage their store fro... read more about Cashier Live

Visit website
N/A
$75/Year
NextoPOS
116

NextoPOS

Best Point Of Sale Software

NextoPOS is a Point Of Sale software for micro, small and medium sized businesses. The ease of getting work automated is one of the excellent features of this software. This is a cloud-based POS system thus making it available anywhere, anytime. Features like inventory management, reports, sales management, offline availability, etc are all embedded in this system so as to make all the details of ... read more about NextoPOS

Visit website
365 Days
Contact Vendor
HelmBot
117

HelmBot

Software for Appointments & Business Management.

HelmBot is an all-in-one software for service based, brick and mortar businesses – especially in the wellness industries. They handle appointment scheduling, point-of-sale, staff management, email & SMS marketing, project management, and a whole lot more. Although they've been around since 2013, you've likely never heard of HelmBot unless you're in the very niche field of floatation therapy. ... read more about HelmBot

Visit website
60 Days
$95/Month
TOTPOS
118

TOTPOS

The Restaurant Management Platform designed with your business in mind.

Powered with over 20 years of our rich industry specific experience, TOTPOS is a state-of-the-art Restaurant Management Solution from Simplified Solutions. Whether you are a fine dining restaurant, cafe, quick service outlet or a takeaway and delivery joint our cloud subscription plans provide you with unprecedented flexibility, on-demand scalability, comprehensive functionality, reliable performa... read more about TOTPOS

Visit website
14 Days
$40/Month
BooksPOS
119

BooksPOS

Cloud based POS for retail stores

BooksPOS makes complex retail simple with all-in-one cloud inventory, POS, Accounting, and eCommerce. BooksPOS allows you to manage all your sales channels, inventory, point of sale and supply chain in one central, cloud-based software. BooksPOS also allows you to run all your franchise network of stores seamlessly from any location. BooksPOS offers a semi-integrated P2PE payment processing ... read more about BooksPOS

Visit website
N/A
Contact Vendor
Impos Plus
120

Impos Plus

Complete Point of Sale Systems

Impos Plus is an end-to-end point of sale solution that offers a complete premium POS feature set to suit all of your business needs. Impos Plus is a fully featured point of sale solution, especially designed for the hospitality industry. Plus offers the complete feature set of the original Impos product, along with the option of all third-party integrations such as MYOB, Deputy, ResDiary, Yellowf... read more about Impos Plus

Visit website
Available
Contact Vendor
NZip
121

NZip

Sales Inventory Billing Retail POS Software

NZip 9.0 Sales is Simple-n-Powerful Software to Manage Inventory, Sales, Purchases & Accounting for Very Small Shop. - Key-Features: • FOR Very Small Store, Apparel, Boutique • IDEAL For Home-based-Seller • TOTAL 81 Features (Modules, 32 Reports, Options) • LITE Installation; Installs in 2-3 Minutes • PC/Laptop/Desktop/Windows Software • Point-of-Sale & Touchscreen Enabled •... read more about NZip

Visit website
Available
Free version
RepairQ
122

RepairQ

If you repair it, we can help.

RepairQ® is the most trusted end-to-end, web-based point of sale and management software designed specifically for repair shops. Our platform includes: - POS functionality - Tracking - Customer engagement - Business management tools - Inventory tools - Business intelligence reporting - Frequent updates and enhancements in response to customer feedback In addition to these power features, ... read more about RepairQ

Visit website
30 Days
$60/Month
Repair Spots
123

Repair Spots

Ultimate Repair shop manager.

We built a really simple interface for checking out sales. We also integrate with Square POS for credit card processing. Our software is compatible with Epson, Star Micronics & Brother label printer. We have built in reports built in such as: Sales Reports, Items Reports, Repair Reports, End Of Day Reports and more. Simple dashboard where you can view your monthly stats, reminders, repair goals an... read more about Repair Spots

Visit website
Available
Free version
Tagrain
124

Tagrain

A new-age point of sale software to empower small-scale retailers for growth

Tagrain’s goal is to streamline daily transactions and maximize profits of small retail businesses globally through the cloud-based point-of-sale system. The company features tools that drive customer acquisition, increase average order size, and make the dream of long-lasting, loyal customer relationships a reality.... read more about Tagrain

Visit website
14 Days
$29/Month
Billberry
125

Billberry

Franchise management Re-Imagined

Want to manage franchise business hassle-free? Want to streamline the customer engagement, manufacturing, and automate inventory management? Look nowhere; Billberry is the one that can help to support the entire franchise life-cycle from procurement to customer retention. No more time-consuming work; it’s easy to create, automate, and track marketing schemes on the go. Sleek Design, Aut... read more about Billberry

Visit website
N/A
Contact Vendor
compare software image

Buyer’s Guide

Introduction to the Buyer’s Guide to the POS Software

Manual checkout processes are no longer valid in the dynamic business environment. Flexibility and automation have become a crucial differentiating factor. A POS software eases ordering, billing, product positioning, customer service, sales projections, marketing campaigns, and demand forecasts. Its implementation can help businesses ease the purchasing process and forecast seasonal demands accurately with analysis of historical customer purchase data. 

Businesses get hold of commerce by using point of sale systems that promote longevity in the business. Retail, hospitality, consumer services, multi-service businesses (like health, nutrition, entertainment, theatres, and hotels) make use of point of sale apps regularly.

However, choosing the right POS software for your business can be daunting. Therefore, this buyer's guide to POS (Point of Sale) software intends to provide in-depth information to the buyers to choose the appropriate point of sale system for their business.

What is Point of Sale (POS)?

POS is an abbreviation for Point of Sale or Point of Service. It means the point of sale transaction or deal that happens between a merchant and a customer when purchasing the product or service. The POS solution is generally used to carry out the transaction.

In simple terms, Point of Sale serves as a system that allows the sale of physical goods in a retail store. The POS system eases the checkout process, streamlines billing, and improves customer experience. 

For example – If you are purchasing something in a retail shop, you are undergoing point-of-sale.

 

What is a Point of Sale (POS) Transaction?

POS transaction is the state where customers offer payment for the purchase of goods or services. It occurs when the deal is finalized. The user can use cash, debit cards, mobile payments, or credit cards for the payment. 

POS systems are increasingly becoming popular by allowing customers to speed up the checkout process and pay bills easily.

What is a Point of Sale (POS) System?

Any store that has a point of sale and point of purchase can use POS software. Ecommerce stores and many brick-and-mortar stores widely deploy the POS system. The POS system helps in controlling the transactions. From customers, products, sales, inventory, loyalty programs, and labor; this point of sale software solutions automatically updates the essential database. 

The retail companies, grocery shops, and hospitality businesses like restaurants and hotels can benefit highly from a POS system. The retailers can accept and process the payments with the help of retail POS software. The user purchases the POS system with hardware and accessories such as a monitor screen, cash register, barcode scanner, receipt printer, and card readers.

Why Do Businesses Require POS Software?

The point of sale system software is becoming the nerve center of every business. It provides an all-in-one solution to a large number of everyday issues. The point of sale solutions collects and records data accurately, which helps users know about the functioning of the business. Point of sale software is essential due to many reasons:

  • Manage the Inventory- The point of sale software maintains the business' inventory. It collects and tracks the information that helps the users know what sells a lot and what time it should be restocked. From the reports, the users can decide when they should adjust the pricing.
  • Automate the Accounting- POS solutions make the record-keeping and accounting process easy and effortless. Directly from the system, the user can collect all the data. If the sound POS system is connected to the computerized accounting system, the user can clear credit cards, record transactions, manage sales, and quickly collect taxes.
  • Collect Customer Data- The user can gather the information from the current customers based on the information input capacities. The POS system allows improving customers' buying experience by keeping the information related to customers' phone numbers and email addresses. The customers will find it easy to shop more if their information is stored prior to the system. This results in better CRM.
  • Save Time - The point of sale software speeds up the checkout process and inventory management. It offers faster payroll processing. The user can make use of the search tool to look for any type of transaction.

The businesses should invest in POS software due to the following reasons:

  • Improved customer experience
  • Simplify sales from multiple locations 
  • Better productivity through integrations
  • Gain access to customer purchase histories
  • Control of inventory
  • Manages Taxes 

What are the Benefits of POS Software?

  • Speedups purchase transactions
  • Provides a seamless shopping experience
  • Optimizes checkout process 
  • Saves information about all customer’s purchase history
  • Boosts productivity by the faster checkout process
  • Provides essential business reports and sales data
  • Better customer service and experience
  • Streamlines cross-selling, interaction with shoppers, and up-selling 
  • Enables easy stock management

What are the Different Types of (Point of Sale) POS?

The various types of POS software are as follows:

Mobile Point of Sale

In the small business sphere, the mPOS system has become more and more popular. Small businesses, like event vendors, contract professionals, and freelancers, find Smartphone POS services an apt option for processing payments. As per the business requirement, the mPOS can be connected to external hardware like a card reader, cash drawer, printer, and barcode scanner. The business owners only have to download an app and create an account for a mobile POS system. 

The user can experience better processing capability, enhanced communication, sophisticated consumer analytics, real-time inventory management, and wireless connectivity with mPOS smart devices. It is cheaper and more flexible than the ePOS (electronic point of sale) system. In retail stores, mobile POS software helps attain consumer data, empower employees, and generate more dynamic sales opportunities. It is suitable for mobile vendors, coffee shops, gift shops, small retail stores, pizzerias, ice cream parlors, art galleries, small theatres, salons, quick-service restaurants, juice bars, and professional services.

The Terminal Point of Sale 

The terminal point of sale (POS) system is used for processing payments at the billing counter. POS terminal usually detects all modes of payments. The modern POS terminals discover NFC (near field communication) / contactless cards and wallets such as Apple Pay, Google Wallet, Samsung Pay, and many more. The Terminal point of sale system is apt for busy retail, antique stores, grocery stores, restaurants.

Self-Service Kiosk POS

A Self-service POS system enables the customers to input the necessary payment data and check out their purchases with self-service POS systems. Even if the billing workers are not physically present to manage the sales process, the businesses can deploy self-service kiosk POS to manage the billing counter. It is apt for - ticket sales, large retail stores, parking, etc. 

How Does a Point of Sale system work?

The POS system helps in running the businesses smoothly by saving time and reducing paperwork. It works in the following manner:

  • Installation and set up – The POS system involves physical hardware components and software system data. The POS provider sets up the account. The user can add inventory, employees, and customers. The POS Company teaches users how to make use of this POS system.
  • Collects data- The POS systems fetch customers' data, including the phone number, name, and customer number. In the industry-specific software, there are features of inventory management.
  • Payment Processing: The customer uses a credit/debit card or an authorized e-wallet to make the payment at the billing counter. Before making the authorized transaction, the user requires the PIN, signature, and fingerprint scan to complete the POS purchase. From the PIN or other security features, the authentication information travels through the banking networks to reach the issuing bank. The bank holds power to approve or deny the deal based on the transaction type and amount of funds present in the cardholder's account.
  • Promotion - The Point of Sale solutions allow users to design simple marketing strategies to gain more business. It offers email marketing and direct mail reports.
  • Reporting and Back Office – The users can review the sales reports and manage inventory, employees, and customers. The point of sale software provides reports that include the details of the cost of goods sold, low inventory along with existing inventory, customer purchase history, item-specific sales reports, and gross sales.

For example,- In the restaurants, the POS system enables tableside payment. You may use credit cards or cell phones to pay with Apple Pay or Android Pay for paying the amount. The restaurant's machine or system to take your payment is termed their point of sale terminal. It takes the payment of the customers by adding up the totals along with the sales tax.

What Are the Various Types of POS Software Based On Deployment Options?

On-Premise POS Solutions: Businesses that want to house their POS software on their own in-house servers and IT infrastructure can deploy the on-premise POS software. Businesses have to purchase the license to use the software. 

Web-based or Online POS Solutions: Third-party online POS software providers offer web-based online POS software that can be accessed from anywhere with internet accessibility. 

Cloud-based POS Software: The cloud-based POS solutions are hosted through a third-party cloud service provider, and business data is stored in cloud servers for high-speed transactions and massive storage capabilities. 

Open source POS Software: Open source POS solutions come with free source code that can be modified according to business needs. 

Based on the Requirement and Nature of Business

There are many types of POS systems, and you can pick up the apt POS solution depending on the requirement and nature of your business.

Retail POS Software- This type of system includes label printing for items without UPC codes, employee commissions, scales of weighted items, ecommerce integrations to set up an online store, and product matrix along with item variants to support the different types of product sizes, colors, etc.

Restaurant POS software- This software should cover the receipt printer for attaining the physical check to the customer, ability to assign order types such as dine-in or takeout, online ordering, remote ticket printing, and custom table map.

Salon POS software- This type of solution requires online booking, calendar management, and memberships.

What is the Difference Between On-Premise POS and Cloud-based POS?

If you are in a dilemma to choose between an on-premise POS or a cloud-based POS system for your business, the below-mentioned points will help you draw the conclusion.

Data security:

On-Premise - The user can access data from only one location as it is a closed network. Your business will be responsible for the protection of your on-premise server.

Cloud-Based - The user can access the cloud-based system from anywhere in the world as it stores data online. The data in this system is more secure as the technical experts maintain the servers.

Integration and Customization:

On-Premise - Based on the business process, the user can customize the on-premise module. The enterprises with a considerable budget can find it an appropriate option.

Cloud-Based - Though the customization in a cloud-based POS system is limited, it is easy and effective to integrate new modules to a cloud-based system. This system is less time consuming, and users don’t have to be fretful about the networks and servers.

Cost Efficiency:

On-Premise - The user does not have to depend on any ongoing service fees for hosting. The user has the freedom and control over the data with this system.

Cloud-Based - Being a subscription-based service, this system has a little upfront cost. The vendors automatically handle maintenance and updates. On the basis of the business size, the price can vary.

POS Best Practices

The user should follow the below-mentioned practices to make the POS system efficient:

  • The POS software should meet the needs of the digital era to meet the demands of reliability, speed, and security.
  • The companies prefer cloud-based platforms so that the users can experience unified commerce, the agility of deployment, along scalability. 
  • The POS solution should be able to enhance customer engagement with the help of technology. The retailers can bring incentives, cross-sell, interact with shoppers, and up-sell by swiping a loyalty card.
  • The retailers should make an educated purchase decision with the help of e-commerce and omnichannel experience.
  • The store associate uses a mobile point of sale software by attaching shopping carts with tablet computers and Apple iTouch.
  • The retailers should provide a consistent pricing pattern or pricing transparency across all channels, whether physical or virtual. 
  • The merchants should believe in creating a powerful POS foundation that also supports modern POS systems.
  • Retailers should be aware of the changes and updates in the mandatory regulations such as Payment Card Industry Data Security Standard (PCI DSS). They should use PCI compliant devices, monitor physical devices, and should not connect their POS system to external networks. 

How to Choose the Best Point of Sale Software?

The POS software should meet the digital era's needs to meet the demands of reliability, speed, and security. The best POS software can simplify business operations and allow users to make informed business decisions. The user should consider the following crucial points to pick the best point of sale system for their business:

User-friendly – The point of sale software should be easy to use so that you can manage it comfortably without consulting the manual regularly or depending on the tech support all the time.

Hardware – The type and size of the business decide on the kind of hardware. The small retailers need a tablet, card reader, and cash box, while the more extensive operation prefers terminals, receipt printers, and barcode scanners.

Software – The user should study the option's capabilities and costs to ensure that the point of sale app is the right fit for their business needs.

Integration – The POS solution should integrate appropriately with the tools, applications, and software that the user is already using. The POS system that integrates seamlessly with third-party vendors will prove to be the ideal choice for the users.

Automation – The POS system software should be able to automate processes and reduce manual inputs. From the logistics, it should be able to use the data. The point of sale system should hold the capability to update inventory and order information by the supply chain.

PCI Compliance – In small business, it becomes crucial to have the provision of payment security. The point of sale software should be in compliance with the data security standards, which are recognized by the Payment Card Industry (PCI). The users’ payment data should be safe-guarded with end-to-end encryption and data tokenization.

Support- POS solutions should provide 24/7 support through live chat, phone, and email.

Cost- Before finalizing the POS system, the user should consider its cost that includes the hardware and software price. Make sure that the terminals should align with the needs of the users. The user should also consider operating costs.

Features- The user should make sure that the POS system should have the core functionalities of inventory tracking, customer management, invoicing and billing, refunds and returns, employee scheduling, and data analytics.

What Questions Should You Ask Before Buying a POS system?

When the user plans to purchase the point of sale software for their business, then he/she should ask a few questions to gain information about prospective POS provider, which in turn helps him to know about the POS Company:

  • Is the company financially workable?
  • Whether POS is the primary business of that company?
  • How much experience does the company hold regarding your business industry type?
  • Whether the company serves as a provider or reseller?
  • How are the reviews of that particular company?
  • What are their service parameters?

What Are Some Common POS Mistakes, and How To Avoid Them?

While choosing a POS software, the users might make a few common mistakes. Let’s discuss how to overcome them:

Pay attention to price only.

Mistake- The user can buy cheap and low-quality POS system software that lacks essential functionalities.

Remedy - To run a competitive business, they should spend more to buy a sophisticated POS system that offers essential and advanced features.

Ignoring the hidden costs

Mistake – Busy business owners may ignore the costs of training staff, maintenance of the system, and payment processing. It can result in more expenses than initially expected.

Remedy- Before investing, it is advisable to consider the factors related to migration costs, hardware, and software, payment processing, maintenance, setup fees, etc. 

Missing the support system

Mistake- Without the support system, the user can face some technical issues that can waste precious time and results in disappointments.

Remedy- The knowledgeable and reliable support system provides technical aid to the users at the time of need. Users should look for vendors that provide efficient technical support.

Restricting the customer payment option

Mistake – The POS system offering limited payment options may turn away some customers from the products and services.

Remedy- More payment options should be given to the customers. The chip payment option will remove the fraudulent charges. They should look for a point of sale software that offers multiple payment options. 

Features of Point of Sale Software

The prominent features of the Point of Sale solutions are:

Inventory and stock Management- All the time, the point of sale system software offers full visibility and accountability at the store level. It presents the visibility of inventory along with SKU’s (Stock-keeping unit) transaction history.

Billing and Order Processing- By scanning items and capturing different payment modes, the point of sale solutions perform billing and order processing functionality. The POS generates order invoices, emails to the customers, adds customer details along with discount details. 

Sales Monitoring and Reporting - The point of sale software produces a strong sales report. The merchants can receive hourly, daily, weekly, monthly, and yearly reports. The advanced POS solutions offer sales trends like seasonal demand in products and information related to stock management.

Cross Channel Returns Management- The POS management system accepts the cross-channel returns and assists in refunds and replacements from any type of store location. The POS system captures the details of the reason for the return, the salesperson's name, and remarks.

Employee Management- The point of sale software administers the employee hours, staffing levels, and sales performance, which ultimately helps track employee productivity. With each transaction, the POS tracks the employee's activity, which eventually assists in dividing the right and weak performers. 

Customer Relationship Management – By storing customer data and purchase history, the point of sale software helps in retaining the customers. In business, customer data is helpful for advertising as it offers insights regarding which customer would be paying attention to the sale.

Onboarding and Support- The point of sale systems software provides interactive webinars, 24/7 support, one on one sessions, email and chat support, customer forum, and account history.

Mobility – The POS system software can be customized for mobility. Your shopper may be on any floor, section, or counter. Mobile POS allows you to take payment and close transactions from anywhere. 

Multiple Payment Methods: POS allows payments with multiple payment modes such as credit card, debit card, loyalty points, gift cards, discount cards, etc. It also allows shoppers to pay with multiple currencies. 

How to Keep the POS System Secure from Cyber Attacks?

You can keep your POS system secure by following the best practices as below:

  • Make use of PCI (Payment Card Industry) compliant devices
  • Never connect the POS system to external networks
  • Set firewalls and anti-virus software
  • Limit access to the internet
  • Prohibit remote access
  • Create strong passwords and often change it
  • Lockdown all the devices at the end of the workday
  • Appoint security experts

What Are the Current Trends in the POS System?

The global point of sale (POS) software market is forecast to reach a size of 42.5 billion U.S. dollars by 2027 - a more than threefold increase from 2018. The Pandemic led to restrictions on cash payments, and the focus of authorities on promoting cashless transactions have significantly increased the use of POS software solutions. 

The most recent trends in the POS system are as follows:

  • Cloud-Based technology - The cloud-based applications that integrate with the POS system is reducing the cost of the point of sale ownership.
  • Artificial Intelligence - Several companies are automating tasks and learning a customer’s journey through data and digital touchpoints by making use of AI in business applications.
  • Mobile payments - In business, mobile payment options have made the transactions more accessible and safer and can even improve customer service.
  • Data collection and analytics - The POS software collects customer details along with data and tax information. It checks employee productivity along with sales.
  • Rise of Bluetooth - On Bluetooth, the payment is fast and secure. The users don’t have to rely on WiFi. Even when the internet is slow or non-existent, they can work comfortably.
  • On-demand purchasing - The POS system allows on-demand purchases for the customers. They can purchase food or goods in advance with the help of store-specific payment apps.

What is the Average Cost of POS Software?

The POS software cost depends on the business size, amount of features it offers, the quality of elements, the type of industry the POS system is meant for, and the potential for customization and scalability. The POS is made up of software along with hardware. The POS hardware costs include tablets, monitors, card readers, receipt printers, barcode scanners, and self-service kiosks. You should also consider the POS hardware costs along with the software. 

The cost of the point of sale systems software can start as low as $6 monthly (for example, Odoo POS) and can reach as high as $1300 per month approximately (for instance, HDPOS Smart)

The small businesses hold the basic features of the POS software, so their prices are more affordable rather than the large organizations that believe in investing in the plans that offer more advanced features. If you are looking for Free and open source POS software solutions, then you can consider Chromis POS, Floreant POS, and Unicenta

Why Refer to GoodFirms’ list of the Best Point of Sale (POS) software?

GoodFirms’ platform performs thorough research based on the latest market trends. Here you will get the curated list of best POS software accompanied by the authenticated reviews. By exploring this huge platform, you can find high-quality and accessible POS software solutions available in the market. Prioritize your business needs and then accordingly decide the best POS software system for your business. 

You can choose the best POS software for your business needs by going through the GoodFirms’ list of the top POS systems. The implementation of the high-performance POS system in your business will provide you better customer experience. Feel free to talk to the experts at GoodFirms or explore the third party vendors to gain more information on the point of sale software.

Frequently Asked Questions

  • What is a Point of Sale Terminal?

    POS terminal serves as the physical equipment that allows merchants to process payments to complete a customer purchase. The POS terminal is a computerized replacement of the cash register that helps in processing credit and debit cards. The POS terminal allows the customer to complete the payment transaction using various payment options.

  • What is a Point of Sale (POS) Transaction?

    POS transaction is the state where customers offer payment for the exchange of goods and services. It occurs when the deal is finalized. The user can use cash, debit cards, mobile payments, or credit cards for the payment.

  • What is a Mobile Point of Sale (mPOS)?

    Mobile point of sale (mPOS) serves as the smartphone device that executes the task of a cash register or electronic point of sale (POS) device. With a downloadable mobile POS application, a user can transform any smartphone or tablet into an mPOS.

  • How Much Does POS Software Cost?

    The point of sale systems software's cost can start as low as $6 monthly and can reach as high as $1300 per month approximately. You can also choose to deploy a free and open source POS software that doesn’t require any investment.

  • Why Should I Use POS Software?

    Cashless transactions technology has witnessed significant growth in the current times. One should use a POS system as it saves time, Improves customer experience, simplifies sales from multiple locations, provides control over inventory, gives historical data about customer purchases, offers better productivity through integrations, and helps manage taxes. 

  • Which Are Some of the Best Free and Open Source POS Software?

    Chromis POS, Floreant POS, Unicenta, Odoo POS, Loyverse POS, and Pangea POS are the best free and open source POS software. For more information on free and open source POS software tools click here

  • Is An Industry-Specific POS System Necessary?

    No, POS systems are adaptable to all industries. An industry-specific POS software can be an added advantage, but it is not necessary. You can deploy a generic POS system that has features that your business needs. Still, if you want an industry-specific POS solution then the following industry-wise POS solutions are popular: POS for Retail businesses, POS for restaurants, POS for medical stores, POS for Salons, POS for Hotels, POS for Hospitals etc. 

  • Can I Analyze Customer Data With a POS System?

    Yes, POS software provides all tools to analyze customer demographic data, purchase history, buying patterns, and repeat transactions. It integrates with your CRM to provide robust functionality and business intelligence.

  • How Do You Use Point of Sale Software?

    You have to add products to the sales list. Scan the product barcode and then take payment using the POS machine. The POS software integrated with the POS machine will record the transaction and process the bill.

  • What Is a Retail POS Software?

    Retail POS Software is used at retail stores to manage billing transactions. It provides functions for transactions, refunds, returns, discounts, inventory management, and real-time analytics. It includes ecommerce integrations to set up an online store, and a product matrix along with item variants to support the different types of product sizes, colors, etc.

Resources for POS Software

GoodFirms