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.
List of The Best POS System | Best Point of Sale Software
List of The Best POS System | Best Point of Sale SoftwareFilter
- 101Restaurant 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
- 102A 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 COMCASHVisit websiteAvailable$125/Month
- 103Accelerate 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 OpenbravoVisit website1 DaysContact Vendor
- 104Next 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
- 105A POS system to Improve your BusinessVisit website15 Days$24/Month
- 106Accounting 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 AccountPeVisit website30 DaysContact Vendor
- 107Retail Management. Reimagined.
FTS Solutions is a Houston-based technology company that specializes in developing, implementing and supporting retail management software and other web-based solutions for the ever-changing retail environment. With more than 10 years’ experience in developing SaaS, we pride ourselves on creating scalable, reliable and affordable technologies that address your business needs. In 2005 we found th... read more about Cygnus Retail Management
- 108Best 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 NextoPOSVisit website365 DaysContact Vendor
- 109Software 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 HelmBotVisit website60 Days$95/Month
- 110The 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 TOTPOSVisit website14 Days$40/Month
- 111Cloud 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
- 112Complete 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 PlusVisit websiteAvailableContact Vendor
- 113Inventory Billing POS Software
NZip 9.0 Sales is Simple-n-Powerful Software to Manage Inventory, Sales, Purchases & Accounting for Small Shop. - Key-Features: • FOR Small Store, Apparel, Boutique • TOTAL 81 Features (Modules, 32 Reports, Options) • LITE Installation; Installs in 2-3 Minutes • PC/Laptop/Desktop/Windows Software • Point-of-Sale & Touchscreen Enabled • Front-Sales-Panel for Billing • Back-Of... read more about NZipVisit website180 Days$30/Year
- 114If 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 RepairQVisit website30 Days$60/Month
- 115Ultimate 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
- 116A 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 TagrainVisit website14 Days$29/Month
- 117Franchise 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
- 118Multifold your Sales with O2VEND - a complete Business management Platform.
Integrated eCommerce website for online sales, Point Of Sale (POS) for brick-and-mortar Retail store Checkout Counter, Mobile - van sales and distribution app for remote sales, collection and Back Office for complete business management is a need for any modern business to optimize inventory, improve revenue and profits.... read more about O2VENDVisit website365 Days$9/Month
- 119Best Free Cloud based POS & ERP for All
SalePoint POS CLOUD POS & INVENTORY MANAGEMENT SOFTWARE. SalePoint POS is a cloud Based Point Of Sale and inventory management software. With SalePointPOS retail solution you can process sales, manage inventory, maintain customer loyalty, and keep track of vendors, all in the cloud. Using SalePoint POS, scale your business from one retail store to many. Access your POS from anywhere on any device... read more about SalepointPOS
- 120CRM / ERP / Accounting Software
Enerpize is offering industry custom solutions to solve small and medium businesses problems and help them effectively access and manage their organizations. All-in-one, cloud-based solution to manage your finance, accounting, sales, inventory, clients relations, employees, operations and more. Unleash new opportunities by managing your business through enerpize where productivity goes hand in han... read more about EnerpizeVisit website30 Days$14.95/Month
- 121The Most Complete POS And Inventory Management Software For Retailers
WooPOS Bundles Together Powerful E-Commerce Tools To Help Customers Manage Their Stores, Transactions And Customers. Our system does it all. Manage inventory, customers, employees and point-of-sale systems across multiple storefronts. You’ll have accurate analytics and over 500 reports to help you improve your business. Easily track inventory and process transactions across multiple storefronts ... read more about WooPOSVisit website30 Days$59/Month
- 122Grow Your Retail Empire
A Cloud "hybrid" POS solution for Specialty retailers who want to manage multiple stores without network servers and infrastructure. The POS app operates with or without an internet connection and integrates to popular EMV-compliant merchant services providers. Powerful stock control and replenishment capabilities maximize returns on inventory. Flexible CRM features improve customers' in-store exp... read more about MyPOS Connect
- 123All-in-One Inventory Management & POS
ACE POS solutions are built to handle all of your retail business needs. With powerful features for single, online or multi-store locations, our solutions will help you seamlessly manage your sales, inventory and accounting so you can spend more time running your business, less time on your tools. Designed for retailers or wholesalers with full offline capability. One-time cost with NO monthly li... read more about ACE POSVisit websiteN/A$675/One-time
- 124Affordable and easy-to-use POS solution helps growing retailers do more.
RockSolid MAX software includes features home and building supply retailers need to grow their business at one affordable monthly price. With easy-to-use integrated point of sale, purchasing, inventory management, and accounts receivableyour business will operate efficiently and profitably. With document management spend time with customers instead of digging through paper. Plus, its cloud-based s... read more about RockSolid MAX
- 125Australia’s Leading POS and back of house solution provider
H&L Australia has been at the forefront of technology in the hospitality food and beverage industry for over 30 years providing Point of Sale Solutions, Back of House Solutions, Workforce Solutions, Marketing & Loyalty Solutions, and Booking Reservation Solutions to over 2000 customers including hotels, pubs, restaurants, cafes, bars, licensed clubs and bottleshops. Exceed POS from H&L provides yo... read more about H&L POS
- 126UK’s Leading EPOS & Hospitality Management System
3S POS offers one of the most flexible EPOS systems on the market, developed and updated over the years through in-house software expertise, that can be customised to fit your exact business and operational requirements. Since 2005, the system has been built to the accumulative requirements and specifications of a variety of hospitality businesses and is trusted by hundreds of delighted customer... read more about 3s Pos
- 127GST billing, POS App, Sale invoice, Inventory
Zomu POS app also known as zomu (https://zomu.in), is a fast, secure, robust, user friendly and made in india android application developed for distributor, wholesaler, retail businesses, restaurants owners, Grocery stores, Gas stations, Shop Owners, Electronic and hardware stores, traders, stockists, Small to Medium Businesses to do their billing anytime. Zomu POS billing app, works as your Bi... read more about ZomuVisit website14 DaysContact Vendor
- 128Automated Revenue Collections System for Government
- 129The most recommended store automation solution for independent retailers in the industry.
Success Systems® is now the most recommended automation solution for independent retailers. Offer the most diversified CLOUD solutions, including real-time loss prevention, back office, store analytics, supplier best price reporting, and the most comprehensive tobacco rebate and loyalty reporting service for Altria, RJRT & ITG. Regardless of your existing back-office solution, we can improve the ... read more about Success Systems ePB
- 130View reports, change prices, add new items, process deliveries
Backroom Online you can view reports, change prices, add new items, process deliveries…Anything you need without having to sit at your desk! Keep track of how much you are making per grade per gallon as well as track your fuel inventory. A powerful tool that lets you take your back office software with you onto the store floor. You can change prices, add items, take deliveries, create purchase o... read more about Backroom OnlineVisit websiteN/A$50/Month
- 131POS with automated inventory and advanced management tools to fuel growth.
Online POS system that offers inventory tracking, reports audit, and sales performance audit. Our Retail Operating System brings simplified POS together with sophisticated back office, inventory management, and CRM. The same powerful solution running large enterprises affordably scaled to smaller businesses. ... read more about InfoTouch POS
- 132Award Winning Android POS Software for restaurants and retail.
IVEPOS is an all-in-one point-of-sale and management platform for businesses in the foodservice and retail space. As a cloud-based system built specifically for restaurants and retail, IVEPOS offers functionality like mobile POS systems, inventory management, sales analytics, CRM and customer loyalty on an easy-to-use interface. The company powers successful restaurants and retail by combining poi... read more about IVEPOS
- 133A complete point of sale software for retail stores.
Focus POS (point-of-sale) is a complete ERP Solution, empowering retailers to track purchase orders and payments, manage real-time inventory data, loyalty programs, sales analytics, and more through a unified platform. The software is customizable and is equipped with features like touchscreen UI and multiple form factors for speeding process time. It can be implemented as both a standalone soluti... read more about Focus POS
- 134Web-based so interfacing all the stores is automatic, providing real time reporting of sales.
OpenPro streamlines back-office processes for growing and midsize businesses. It accelerates business work flows, improves data reliability, and offers higher levels of service to customers, suppliers and partners. It provides real-time visibility into key Performance Indicators (KPI) for better, faster decision-making. OpenPro ties together accounting/ERP/CRM/ecommerce applications allowing you t... read more about OpenPro POS
- 135Point of sale.
Preferred POS software is an application installed on your computer. It is a complete and robust retail solution built with small to medium retail establishments in mind. You can also purchase a full software and hardware package to leave the installation and configuration to us. ... read more about Club Sentry
- 136Retail & Wholesale Enterprise Resource Planning Software
Jesta’s Vision Suite is a set of retail business software solutions that easily integrate to form a robust ERP for retailers, e-tailers, wholesalers and brand manufacturers. The Suite is comprised of four cloud solutions: Vision Sourcing & Demand, Vision Merchandising, Vision Store & Omnichannel, and Vision Analytics. Each addresses a different segment of the supply chain from product design and... read more about Jesta Vision Suite
- 137ALL-IN-ONE POINT OF SALE SYSTEM BUNDLE
NRS’ industry-leading Point of Sale Bundle comes with everything you need to offer customers a quick and seamless checkout experience, including Heavy-Duty-Hardware, State-of-the-Art Software, and unique integrations with Boss Revolution® and the BR Club™ store loyalty program. Our POS software helps you efficiently manage your store using a comprehensive suite of tools designed for retail st... read more about NRS POS
- 138Say Yes to Automating Your POS!!! And, Accelerate your store's operations!!
FTx’s POS Solutions for retail companies provide a flexible, intuitive point-of-sale software system. Our POS system comes fully automated, which makes the interface easy for cashiers to understand & operate. FTx Global offers leading enterprise software solutions, point-of-sale software solutions to a variety of retail specialties, ranging from small to midsized businesses in the USA and Can... read more about FTx Automated POSVisit website15 DaysContact Vendor
- 139POS Solutions for Merchandise, Fuel & Foodservice Retailers
SmartPOS convenience store point-of-sale software is a secure, internet-based c-store POS management system that includes an electronic journal, price book, lottery management, and lottery theft detection. SmartPOS manages cash and pending transactions, store promotions, and supports multiple languages, currency types, and tax requirements. The convenience store POS includes metrics reporting, his... read more about SmartPOSVisit website14 DaysContact Vendor
- 140Mobile POS & Inventory Management System for Pharmacies
ZibPOS has everything you need to start, run and grow your business from your Android or IOS point-of-sale device. ZibPOS app keeps track of sales and inventory in real-time, manage items and employees and helps to view analytics about your business. Pharmacist can add products with a picture, SKU, batches, cost info and quantity and update them in the inventory. Every new batch of the product ca... read more about ZibPOS
- 141Point of Sale with Superior Payments
Octopos is a great all in one Point of Sale solution that allows local storefronts to improve sales and profit by giving them right set of operations and marketing tools. Unbelievably quick hardware and game changing insights made for your small business. Accept the payment whichever way you want. Use our contactless payment terminal to keep things sanitary. Our interchange plus pricing is lowest ... read more about OctoposVisit website30 Days$49.99/Month
- Introduction to the Buyer’s Guide to the POS Software
- What is Point of Sale (POS)?
- What is a Point of Sale (POS) Transaction?
- What is a Point of Sale (POS) System?
- Why Do Businesses Require POS Software?
- What are the Benefits of POS Software?
- What are the Different Types of (Point of Sale) POS?
- How Does a Point of Sale system work?
- What Are the Various Types of POS Software Based On Deployment Options?
- What is the Difference Between On-Premise POS and Cloud-based POS?
- POS Best Practices
- How to Choose the Best Point of Sale Software?
- What Questions Should You Ask Before Buying a POS system?
- What Are Some Common POS Mistakes, and How To Avoid Them?
- Features of Point of Sale Software
- How to Keep the POS System Secure from Cyber Attacks?
- What Are the Current Trends in the POS System?
- What is the Average Cost of POS Software?
- Why Refer to GoodFirms’ list of the Best Point of Sale (POS) software?
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.
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.
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 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.