Best Point of Sale (POS) Software
Looking for the best Point of Sale (POS) software for your business? Although it may seem easy, one wrong choice can affect your business negatively. This is where you can rely on GoodFirms' researched list of the best POS software solutions available in the market. With easy-to-use filters, you can also compare the prices, features, and deployment types of the top point-of-sale systems. Also, read verified user reviews of the top POS systems and make an informed buying decision. Check the list below:
List of Open Source & Free Point of Sale (POS) System & Software
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The Assistant Manager management application must satisfy the needs of all business units to converge an enterprise’s commerce successfully. The mission-critical needs of your customer-facing, digitally-facing, and back-of-the-house business units must be met. Our solely developed and proven application provides all that‘s needed. ... read more about The Assistant Manager
Entry Level PriceContact vendorFree TrialN/ACategory Focus50% in POS Software -
Since 1992, AMS Retail Solutions has turned area merchants into very, very satisfied customers thanks to our customized, automated retail solutions for business. After all, when you can help someone increase sales, profits and efficiency, what’s not to love? Founded in Virginia Beach, VA in 1992, we’ve kept businesses moving and improving throughout the Mid-Atlantic and Nationwide. ... read more about AMS Point of Sale
Entry Level PriceContact vendorFree TrialN/ACategory Focus50% in POS Software -
Bsale is intended for people who are not computer savvy. We design Bsale for entrepreneurs like you, who need to implement and work quickly and easily with software that helps you sell. You will have a team of people who will accompany you throughout the process, will resolve your doubts and will be available to assist you by whatever means you prefer. ... read more about Bsale
Entry Level PriceContact vendorFree TrialN/ACategory Focus33% in POS Software -
CompuTant provides consulting and technical expertise to help you unlock the full value of your POS solution portfolio. Our consultants are professional innovative experts trusted by our customers to deliver technical, business, design consulting services and data analytics to ensure customers realize the full vision and value of their POS systems. We are in the business of helping your busines ... read more about CounterPoint
Entry Level PriceContact vendorFree TrialAvailableCategory Focus50% in POS Software -
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 XoomRetail
Entry Level PriceContact vendorFree TrialN/ACategory Focus33% in POS 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
Entry Level PriceContact vendorFree TrialMore than 30 daysCategory Focus100% in POS Software -
Impos is part of the fabric of the hospitality industry. For more than 17 years we’ve been delivering through great software and awesome service and we haven’t stopped improving. Everything we do is geared towards your business thriving. From the one-man band to the multinational, our POS products are proven to make your hospitality business succeed. With 34 of Australia’s top 100 restauran ... read more about Impos
Entry Level PriceContact vendorFree TrialN/ACategory Focus34% in POS Software -
orderbird's iPad POS (Point of Sale) system has taken on a leading role in the new generation of smart, affordable and easy-to-operate cash register solutions for the catering industry. The company is setting benchmarks with its POS software that runs on mobile iOS devices by Apple (iPad, iPod, iPhone). Built as a Software-as-a-Service (SaaS) model, orderbird ensures dining establishments that the ... read more about orderbird POS
Entry Level PriceContact vendorFree TrialAvailableCategory Focus100% in POS Software -
A comprehensive point of sale, repair tracking, and business management solution were developed for the retail repair industry. RepairQ focuses on automating your daily operations and is constantly adding features and qualified integrated partners. RepairQ offers Point of Sale, Ticket and Repair Tracking, Inventory Management, Enhanced Customer Relationship Management, Business Intelligence report ... read more about RepairQ
Entry Level Price$75.00 Per MonthFree Trial30 DaysCategory Focus50% in POS Software -
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
Entry Level PriceFree versionFree TrialAvailableCategory Focus33% in POS Software -
Ricochet Consignment allows users to create customized consignment splits, categories, and item fees. Vendors and consignors can sign in from anywhere and view or manage inventory, track payouts, and view item statuses. Inventory can be managed with quick-add and quick-search for items, inventory filtering, and label printing. Ricochet’s intuitive interface also allows users to manage consignor ... read more about Ricochet
Entry Level Price$109 Per MonthFree TrialN/ACategory Focus50% in POS Software -
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
Entry Level PriceContact vendorFree TrialN/ACategory Focus50% in POS Software -
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
Entry Level PriceFree versionFree TrialAvailableCategory Focus50% in POS Software -
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
Entry Level PriceContact vendorFree TrialN/ACategory Focus40% in POS Software -
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 POS
Entry Level Price$675 One-timeFree TrialN/ACategory Focus100% in POS Software -
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
Entry Level PriceContact vendorFree TrialN/ACategory Focus100% in POS Software -
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
Entry Level PriceContact vendorFree Trial7 DaysCategory Focus50% in POS Software -
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
Entry Level PriceContact vendorFree TrialN/ACategory Focus33% in POS Software -
Success Systems ePB
The 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
Entry Level PriceContact vendorFree TrialN/ACategory Focus40% in POS Software -
ACCEO Logivision is an easy-to-use point of sale software designed for retailers seeking rapid transaction entry and safe data recording. The software runs on a local database to ensure mission-critical front-end operations. Our flexible Windows-based solution allows you to choose your own hardware. We offer a set of comprehensive and easy-to-use management tools designed for back-office control i ... read more about ACCEO Logivision
Entry Level PriceContact vendorFree TrialN/ACategory Focus50% in POS Software -
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
Entry Level PriceContact vendorFree TrialN/ACategory Focus100% in POS Software -
OpenPro POS
Web-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
Entry Level PriceContact vendorFree TrialN/ACategory Focus20% in POS 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
Entry Level PriceContact vendorFree TrialN/ACategory Focus40% in POS Software -
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 retai ... read more about NRS POS
Entry Level PriceContact vendorFree TrialN/ACategory Focus100% in POS Software -
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 SmartPOS
Entry Level PriceContact vendorFree Trial14 DaysCategory Focus100% in POS Software -
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, manages items and employees, and helps to view analytics about your business. The pharmacist can add products with a picture, SKU, batches, cost info, and quantity and update them in the inventory. Every new batch of the prod ... read more about ZibPOS
Entry Level PriceContact vendorFree TrialN/ACategory Focus40% in POS Software -
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 Octopos
Entry Level Price$49.99 Per MonthFree Trial30 DaysCategory Focus100% in POS Software -
An eCommerce and retail point of sale system for small businesses that works well and works right. Keep a complete pulse on your business and make downtime a thing of the past with Cumulus’ ‘Always On’ retail point of sale systems. Unlike most retail cloud POS solutions, Cumulus ensures reliability at the point-of-sale should internet connectivity go down, letting you carry on with processin ... read more about Cumulus Retail
Entry Level Price$125 Per MonthFree Trial30 DaysCategory Focus50% in POS Software -
ServiceGanja is an all in one POS & Management platform for Cannabis Dispensaries. ServiceGanja powers dispensaries of all sizes. We do this by using our technology to maintain compliance, and create operational efficiencies that allow cannabis retail shops to thrive! ... read more about ServiceGanja
Entry Level Price$249 Per MonthFree TrialN/ACategory Focus100% in POS Software
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 the crucial differentiating factors. 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 solution automatically updates the essential database.
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.
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 servicesan 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 the 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 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 a 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, the 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 into 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 with 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 businesses, 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 including 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 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 payments and close transactions from anywhere.
Multiple Payment Methods: POS allows payments with multiple payment modes such as credit cards, debit cards, 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 has 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 are 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 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)
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 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 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 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.
Point of Sale (POS) Software Comparison: Square POS, Clover POS, Toast POS, Shopify POS, and QuickBooks POS
Feature | Square POS | Clover POS | Toast POS | Shopify POS | QuickBooks POS |
---|---|---|---|---|---|
Company Background | Square POS was developed by Square, Inc., a financial services and mobile payment company founded by Jack Dorsey and Jim McKelvey. | Clover POS was developed by First Data Corporation, a financial technology company that provides payment solutions and services. | Toast POS was developed by Toast, Inc., a technology company that provides restaurant management and POS solutions. | Shopify POS is developed by Shopify, Inc., an e-commerce platform offering online and offline retail solutions. | QuickBooks POS is developed by Intuit Inc., a financial software company known for its accounting and financial management solutions. |
Target Audience | Small businesses, retailers | Businesses of all sizes | Restaurants, bars, hospitality | Retail businesses (integrates with Shopify ecommerce) | Small and medium businesses |
Pricing | Freemium (limited features, transaction fees), paid plans start at $10/month | Paid plans start at $29/month | Paid plans start at $100/month (may vary) | Freemium (limited features), paid plans start at $29/month | Paid plans start at ~$12/month |
Strengths | Easy to use, free plan available, mobile app | All-in-one solution, loyalty programs, app marketplace | Restaurant-specific features, inventory management, kitchen display system | Integrates with Shopify ecommerce platform, inventory management | Integrates with QuickBooks accounting software, good for inventory management |
Weaknesses | Limited features in the free plan, transaction fees | Can be expensive for larger businesses | May be overkill for some retail businesses, restaurant-focused | Limited features compared to dedicated POS systems | Limited features compared to dedicated retail POS systems |
Best for | Businesses needing a simple and affordable POS system | Businesses seeking a comprehensive POS with additional features and apps | Restaurants and bars need a feature-rich POS system for food service | Retail businesses already using Shopify for ecommerce | Businesses using QuickBooks accounting software and needing inventory management |
GoodFirms Notes: | Square POS is a user-friendly and affordable option with a free plan that is good for small businesses. | Clover POS offers a variety of hardware options and features beyond basic POS functionalities. | Toast POS is feature-rich and caters specifically to restaurants and hospitality businesses. | Shopify POS is ideal for retailers with a Shopify online store, enabling omnichannel sales. | QuickBooks POS integrates seamlessly with QuickBooks accounting software for streamlined financial management. |