Best Retail Pont Of Sale (POS) Software
Best Retail POS Software includes myBillBook, Ginesys, IVEPOS, Wasp, LOGIC ERP, and Shopify. Retail POS system helps to bring a seamless shopping experience, increasing efficiency, helping in maintaining price consistency, etc.
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List of 20 Best Retail POS Software
Contenders | 2024
Software by LightSpeed
Lightspeed is a retail point of sale system is cloud-based that allow you to access the data from any device. The Retail POS system has powerful analytics and reporting features; it accepts all payments methods, easy-to-use templates, and centralizes your inventory sales. Read LightSpeed Reviews
Explore various LightSpeed features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all LightSpeed Features- Order Entry
- Email Integration
- Barcoding / RFID
- Accounting
- Customer Management
- Data Imports/Exports
- Cash Management
- Vendor Management
Pricing
LightSpeed Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Emergents | 2024
Modern Retail POS
Zakya is a modern retail POS software that helps small and medium-sized businesses sell better, manage their entire business, and join the digital revolution in one hour or less. Learn more about Zakya
Explore various Zakya features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Zakya Features- Online Ordering
- Inventory control
- Barcode Scanning
- Reporting/Analytics
- Integration with scales and weigh stations
- Delivery Tracking
- Gift Shop POS
- Accounting
Pricing
Standard
$ 9
5 Users/Month Billed Annually
Zakya Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Emergents | 2024
Software by LivePOS
LivePOS provides a POS system for retail stores that are easy to manage and install. The advanced Retail POS System manages inventory, employees, and customers. This retail point of sale systems has its own benefits for all the retailers by creating specific access levels for your store managers, employees etc. Learn more about LivePOS
Explore various LivePOS features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all LivePOS Features- eCommerce
- Commission management
- Returns Tracking
- Ordering Automation
- Pricing Management
- Loyalty Program Support
- Sales Tracking
- Customer DataBase
Pricing
Single Outlet
$ 89
Per Month
Growing Chain
$ 129
Per Month
LivePOS Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Category Champions | 2024
Software by Shopify Inc.
Shopify POS is the best POS system for retail stores that accepts and records the payments from cash, external credit card terminals etc. This Retail POS system manages your daily cash flow and allows the retailers to set up the PIN code for your staff for tracking the orders they receive. Read Shopify POS Reviews
Explore various Shopify POS features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Shopify POS Features- Customer Management
- Dashboard
- Gift Card Management
- Ordering Automation
- Stock Management
- Layaway Management
- Restaurant POS
- Purchase
Shopify POS Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Emergents | 2024
Software by Vend Limited
It is one of the best Retail POS systems that helps you to create and manage your online store. Vend handles all the sales operations, manages the payments, and easy-to-use. You can use it in multiple businesses such as- Fashion boutiques, Jewelry, Health and Beauty retail, Home, furniture and gifts, hobbies and music etc. Read Vend POS Reviews
Explore various Vend POS features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Vend POS Features- Loyalty Program Support
- Loyalty Management
- Restaurant POS
- eCommerce Management
- Barcode Scanning
- Retail Management
- Stock Management
- Ecommerce Integration
Pricing
Lite
$ 99
Per Month
Pro
$ 129
Per Month
Vend POS Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Contenders | 2024
Software by ShopKeep
Shopkeep has well-designed POS solution that manages your inventory, with handy Bluetooth barcode scanners. The POS system for the retail store has portable barcode scanners and barcode printer. It imports the bulk inventory in your system just by taking few minutes and keeps it up-to-date. Read ShopKeep Reviews
Explore various ShopKeep features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all ShopKeep Features- Pricing Management
- Ordering Automation
- Channel Management
- Reporting
- Inventory Management
- Restaurant POS
- Table Management
- Billing & Invoicing
ShopKeep Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Emergents | 2024
Software by POS Nation
This Retail Point of Sale system is the best POS system for all retail stores. Posnation includes the cash drawer, barcode scanners, and decreased the inventory data-errors through its quick scan. The Retail POS system keeps the customer history sales and also track purchase orders. Learn more about POS Nation
Explore various POS Nation features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all POS Nation Features- Customer DataBase
- Loyalty Program Support
- eCommerce
- Sales Tracking
- Barcode Scanning
- Inventory Management
- Pricing Management
Pricing
POS - MONTHLY
$ 119
Per Month
POS Nation Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Emergents | 2024
Software by Epicor
Epicor's POS system for the retail industry streamlines and simplifies each task by its new features- new navigation and a new Support bar. You can consider it as best POS system for retail that increases the productivity by tracking the sales more efficiently. You will this POS system smarter and faster from the other ones. Learn more about Epicor Retail
Explore various Epicor Retail features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Epicor Retail Features- Customer DataBase
- Inventory Management
- Touch Screen
- Sales Tracking
- Barcode Scanning
- Pricing Management
- Returns Management
- Commission management
Epicor Retail Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Category Champions | 2024
#1 GST billing software
myBillBook is a simple billing & retail inventory management software to help you manage & track your stock. You can track all inventory using this software, including batch number, expiry date, manufacturing date, slot number, and other details. Read myBillBook Reviews
Explore various myBillBook features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all myBillBook Features- 24/7 Support
- Online invoicing
- Quotation & Estimates
- Purchase Order Management
- Loyalty Management
- Centralized Data
- Bookkeeping
- Balance Sheet
Pricing
Silver Plan
$ 0
Per Month
Diamond Plan
$ 3
Per Month
Platinum Plan
$ 3
Per Month
myBillBook Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Contenders | 2024
Software by Erply LTD.
Erply is a cloud-based and retail point of sale systems that has powerful features. You will find this retail point of system is easy-to-use and install. This Retail POS system for retail stores has a wide variety of features like- Fast& Responsive, powerful backend, manages purchase and customer orders, Multi-user, and universal bar-codes. Read ERPLY RETAIL ERP Reviews
Explore various ERPLY RETAIL ERP features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all ERPLY RETAIL ERP Features- POS Integration
- Import/Export DataBase
- Inventory Management
- Email Integration
- Search Option
- Supplier and Purchase Order Management
- Export repots to Excel/Text/PDF Formats
- Sales Management
Pricing
Starter
$ 99
Per Month
ERPLY RETAIL ERP Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Contenders | 2024
Ginesys - A future ready Retail POS
Ginesys is a futuristic retail software combining the best of POS with the best of Retail ERP. Seamlessly manage multiple stores and if required upgrade to ecommerce by connecting both offline and online. It is built keeping in mind the needs of today's retail industry and runs on cloud to give you peace of mind. Read Ginesys ERP Reviews
Explore various Ginesys ERP features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Ginesys ERP Features- Real Time Synchronization
- Built-In Accounting
- Mobile Access
- Rate Management
- SKU / UPC codes
- Discount Management
- Sales promotions handling
- Auto sync online and offline sales channels
Ginesys ERP Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Contenders | 2024
Breathing life into your Retail business with pran
prana POS is a powerful cloud-based Point of Sale software for retail and F&B businesses worldwide. prna POS is flexible and adaptable. prana POS is a perfect solution for all the mom n pop stores, multi-chain outlets, and enterprises. Read eRetail Cybertech - pranaPOS Reviews
Explore various eRetail Cybertech - pranaPOS features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
- Wholesaler Management
- Barcoding
- Consignments
- Billing Management
- Multiple Language
- Electronic Signature
- Purchase Order Management
- Customer Management
Pricing
CORPORATE
$ 0
Per Month
BASIC
$ 160
Per Year
STANDARD
$ 320
Per Year
eRetail Cybertech - pranaPOS Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Category Champions | 2024
A complete Retail POS Software for small to big re
Uprow ERP is a simple yet powerful inventory management software to maximize your profits. Manage inventory across multiple outlets with a centralized database, automatically reorder stock, Create variants, Print barcode labels & more. Read Uprow ERP Reviews
Explore various Uprow ERP features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Uprow ERP Features- Cash Drawer Management
- Point of Sale (POS)
- Quotation & Estimates
- Sales Quotes
- POS
- Payment Processing
- Refunds and Store Credits
- Auto sync online and offline sales channels
Uprow ERP Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
High Performer | 2024
The best-in-the-industry, Digital-ready POS Software
LOGIC ERP, a One Stop Solution for Retail and POS Billing that enable retailers to attend high rush walk-ins with robust billing, accept payments via various methods with ready plugins for wallets and Payment POS, track their inventory, and pick up promos and customers’ loyalty. Irrespective of which vertical you’re in, Apparel & Fashion, Grocery & FMCG, Pharma, or Specialty Retail, this retail management software can meet your needs and ensure to be part of your growth stories. Read LOGIC ERP- Retail Management Reviews
Explore various LOGIC ERP- Retail Management features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
- Warehouse Management
- Manufacturing Management
- Inventory Management
- Loyalty Management
- Enterprise Order Management
- Auto Replenishment
- Procurement Management
- Mobile WMS
LOGIC ERP- Retail Management Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Category Champions | 2024
IVEPOS Point of Sale - Retail & Restaurant POS
IVEPOS is a cloud-based Point of Sale and business management software for restaurants and retail with 100+ tools for billing, payments, inventory management, customer management, and many more tools. Read IVEPOS Reviews
Explore various IVEPOS features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all IVEPOS Features- Purchase
- Online Payment
- Analytics
- Accounting Management
- Rewards Management
- Refunds and Store Credits
- POS Transactions
- Recipe/Formula Costing
Pricing
IVEPOS
$ 8
Device/Month
IVEPOS Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
High Performer | 2024
GST Billing software with Inventory & Accounts
Simple Billing software with complete inventory and accounts modules. It's fast, reliable and easy to maintain. Ideal for businesses that have a large number of invoices and deals in 100's of SKU's. Typically used by distributors, retailers and small manufacturers. Read Horizon ERP Reviews
Explore various Horizon ERP features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Horizon ERP Features- Analytical Reporting
- Barcode Scanning
- Billing & Invoicing
- Bill of materials (BoM)
- Discount Management
- Discount and Promotion Management
- Inventory Optimization
- Inventory Management & Consumption Tracking
Pricing
SINGLE PC License
$ 192
One Time
THREE PC License
$ 384
One Time
EIGHT PC License
$ 746
One Time
Horizon ERP Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Emergents | 2024
HDPOS smart for your business
HDPOS smart is a feature rich, easy to use retail POS billing and inventory management software that is available to you at a very low cost in India. Retail POS software has full control on your business even if you are physically not in shop. Read HDPOS Smart Reviews
Explore various HDPOS Smart features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all HDPOS Smart Features- Restaurant POS
- Sales Management
- Invoices
- Audit Trail
- Labor Management
- Cash Management
- Tax Management
- Supplier and Purchase Order Management
Pricing
HDPOS for single computer
$ 180
Per Annum
HDPOS Client-Server
$ 347
Per Annum
HDPOS cloud based subscription
$ 69
Per Month
HDPOS Smart Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Emergents | 2024
Software by TouchBistro
TouchBistro is an easy and smart iPad-based POS system for restaurants, cafes and bars. It's best features like that Payment Processing/Integration, Security Features, Menu Customization, Staff Management, Table Management and manage more Restaurant related features. Read TouchBistro Reviews
Explore various TouchBistro features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all TouchBistro Features- Reservations Management
- Billing Management
- Waitstaff Management
- Payment Handling
- Wait List Management
- Payroll Management
- Food Costing
- Tax Management
Pricing
SOLO
$ 69
User/Month/Billed Annually
DUAL
$ 129
User/Month/Billed Annually
TEAM
$ 249
User/Month/Billed Annually
TouchBistro Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Contenders | 2024
Simple solutions for your business
QuickBill is one of the best powerful Invoice software for small, mid-size, and large businesses. It has feature provides Inventory Management, Quick Billing, Barcode Design, Financial Accounting, Service Billing, SMS & Email, etc. Read QuickBill Reviews
Explore various QuickBill features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all QuickBill Features- Payment Handling
- Multiple Billing Rates
- Product Catalog
- Invoice Designer
- Bank Reconciliation
- Accounts payable
- Account Management
- Quotation & Estimates
QuickBill Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Category Champions | 2024
Software by Shopify Inc.
Shopify is a Leading eCommerce Platform and popular among the small retailers and startups. Shopify themes, templates, apps & SEO features makes it easier to create online store quickly. Manage your customers, inventory, orders and billing from one platform. Read shopfiy reviews to learn why over more than 1,00,000+ business trust shopify ecommerce platform. Read Shopify Reviews
Explore various Shopify features, compare the pricing plans, and unlock the potential of seamless operations by selecting the right software for your business.
Features
View all Shopify Features- Quick Checkout
- External Apps & In-Built Features
- Bulk Product Upload
- Secure Sockets Layer (SSL)
- Order Status / Tracking and History
- Mobile App
- Custom Domain
- Orders Management
Pricing
Basic Shopify
$ 29
Per Month
Pro Shopify
$ 79
Per Month
Advanced Shopify
$ 229
Per Month
Shopify Caters to
- StartUps
- SMBs
- Agencies
- Enterprises
Point-of-Sale (POS) software has developed into a "must-have" for any retail establishment attempting to advance in its line of business. According to Fintech Global, POS terminal transaction value will increase by 28% to exceed $17.3 trillion by 2026.
Moreover, the report also said that nearly 50% of POS users are retail businesses. Thanks to the adoption of POS systems, retailers can facilitate real-time data about sales performance, a speedy payment process, reliable inventory management, and time and cost efficiency.
POS systems are designed to make the retail selling process more straightforward. Furthermore, a fully integrated POS system offers even more benefits to shops. Let’s now have a closer look at retail POS systems to know how they can provide us with a competitive advantage.
What Is a Retail POS Software?
Retail POS software is software designed to automate lots of your operational tasks. The point of sale (POS) combines activities like sales, inventory, and customer administration for easier management.
You should also be aware that only some retail POS software applications are appropriate for some business sizes or industries. On the market, you will find dozens of vendors. However, the critical challenge is to select the right POS system to help improve your retail strategy and optimize revenues.
Benefits of Retail POS Software
Retail POS software bring retailers the advantage of gathering all of the sale data and customer information. Before jumping into implementation, check out the benefits we have sorted out below to understand why it is so important to track and maintain your sales information with a smart system.
1. Improved efficiency
You can run your business more quickly with an all-in-one POS system. With POS hardware and software, you may finish purchases anywhere in the store with a few clicks. You will be able to increase client satisfaction by offering speedier services thanks to the synchronization of hardware and software.
The POS system also assists you with inventory counting. As a result, you will save time calculating stocks. The automation will eliminate human errors, resulting in the loss of financial counting, customer retention, and support personnel regarding data management and product tracking in real-time reports.
2. Accurate inventory management
Retail point-of-sale software ensures that your inventory is tracked in real time. A POS system with advanced inventory management allows you to build audit trails, handle stock management, and gather your product information for physical and online stores. Furthermore, with a frequently updated inventory status on the POS dashboard, you can immediately determine which items are top-selling and which are running low.
3. Efficient transaction processing
POS systems utilize software to automate transaction processes, resulting in faster payments. For instance, barcode scanners and in-store POS systems can identify item prices.
Customers can receive their invoices via email or a receipt printer, avoiding long wait times. This efficient transaction processing improves the customer experience and encourages repeat purchases, ultimately benefiting both the customer and the business.
4. Better customer experience
A faster and more seamless transaction process can improve customer experience. Additionally, a retail POS system enables businesses to gather and analyze customer information, better understanding their target market.
This data can be used to send promotions and recommend related products to customers, incentivizing them to visit the store. However, this can only be achieved with a suitable POS system for comprehensive data collection.
5. Comprehensive reporting
The retail POS system will automatically extract point-of-sale reports containing crucial information based on the history of store transactions. This feature assists managers in capturing overviews of their company's performance. Reports, for example, illustrate typical trends in sales or identify areas of overspending so management can take appropriate action.
6. Integration with other systems
Integrating your POS software with other business tools will give an overview of your company by connecting numerous data points and offering important insights. Furthermore, integrating different systems can leverage automation and reduce administrative time, making reporting faster and more accessible.
7. Streamlining operations
Retail point-of-sale software streamlines operations for retailers by automating and optimizing critical tasks, reducing errors, and providing valuable insights into business operations. In particular, the POS system reduces wait times for customers and minimizes the risk of mistakes with the help of barcode scanning and automatic payment processing.
Furthermore, retail POS software can manage customer data in a centralized system to personalize the customer experience and create marketing campaigns later.
Key Considerations While Selecting Retail POS Software
Spending time and effort to research and evaluate POS systems can help to find the right software for your business. Let’s take a closer look at some of the key factors you should bear in mind when choosing a POS solution.
1. Business needs
Assess your retail business operations to determine which areas a POS system can increase efficiency. Determine the necessary features, such as order management, payment flexibility, advanced inventory management, loyalty, customer and employee management, and reporting.
Consider your business types, such as multi-location stores or online orders, compare POS systems, read the retail POS system reviews, and discuss pain points with the best POS system sales team to find a suitable solution.
2. Features and functionality
When choosing a POS system, consider the features and integrations required, such as accounting tools and aggregator software. Ensure the POS system can accommodate future scaling and expansion plans, such as adding new stores or managing multiple locations. By understanding the business necessities, a retailer can make a knowledgeable decision and choose a POS software that supports growth.
3. Hardware requirements
The hardware requirements of retail POS software for a retail business depend on the size and type of operation:
-
A tablet POS system, card reader, and cash box may suffice for small retailers.
-
Terminals, receipt printers, barcode scanners, and other equipment may be necessary for large operations.
4. Pricing
Look for a POS system that is affordable. Consider the upfront costs, ongoing maintenance, and additional monthly fees, such as transaction fees or software updates. However, remember that the cheapest POS system may not be better for your company.
5. Support
24/7 customer support for your retail POS system is crucial to ensure any issues can be quickly resolved, minimizing downtime and preventing loss of customers and sales. A POS system with 24/7 assistance offers improved efficiency, raised uptime, peace of mind, and enhanced productivity. It dramatically enhances the customer experience and can save time, ultimately boosting productivity.
6. Integration with other systems
When selecting a quality POS system, it's essential to consider the software's features and its ability to integrate with third-party software. Integrations can streamline operations by eliminating the need for duplicate entries and centralizing data. Third-party integrations can simplify many day-to-day processes, so checking what integrations are available when choosing a POS system is crucial.
7. User-friendly interface
A user-friendly POS software can improve checkout and speed up customer transactions. To evaluate a POS system's user-friendliness, take a demo tour and explore the key features and functionalities. Test the trial version to ensure that it is easy to navigate. A POS system designed with end-users in mind can reduce checkout queues and save time and money for your business.
8. Security
A sound POS system should include a security feature that encrypts your data, routinely backups your data, and requires passwords or biometric verification for access.
Depending on your industry and area, it should also include a compliance component that complies with the necessary laws and regulations, such as PCI-DSS, GDPR, or HIPAA. A safe and compliant POS system will help avoid fines, lawsuits, and reputation harm.
Top 5 Best Retail POS Software for Small Businesses
When deployed effectively, POS systems help retailers boost sales, foster customer loyalty, and achieve their objectives. We assessed the top retail POS systems on the market and chose them based on cost, usability, and more.
Name
|
Free Trial
|
Demo
|
Starting Price
|
---|---|---|---|
14 Days |
Yes |
Quote pricing | |
14 Days |
Yes | $119/mo | |
14 Days |
Yes |
$25/mo | |
30 Days |
No |
$139/mo | |
7 Days |
Yes |
$69/mo |
1. Magestore POS
Magestore POS is one of the best retail POS systems for Magento merchants. It is explicitly built for the Magento platform, allowing real-time connection between online and offline businesses without data loss.
The retail point-of-sale software is customizable to fit specific needs and follows a one-time payment model without extra charges for additional users or devices. Magestore retail POS system simplifies store operations and consolidates all data in Magento, making it a valuable tool for retailers.
Key features
- Data management
- Magento technology and features adaption
- Selling management
- Store activity management
- One-time payment
- Shopping experience customization
- Report management
Pros
- Users can get familiar with Magento and adopt all Magento configurations
- It can centralize all the information in the Magento backend and sync in real-time
- The platform is customizable to meet specific business requirements
Cons
- It is a complex system with numerous functions and settings
- This software has higher pricing plans
Pricing
It is flexible based on the business requirements.
2. Lightspeed retail
Lightspeed Retail, one of the top retail POS systems, offers excellent inventory management capabilities, enabling tracking items across multiple locations, adding product variations, and ordering inventory through integrated vendor catalogs. It provides advanced analytics and integrations with other platforms to enhance efficiency.
Key features
- Inventory management
- Track product transfers
- Omnichannel selling
- Multi-store passwords
- Purchase orders including in API
- Quote management
- Advanced reporting generation
- Third-party software integration
Pros
- It generates real-time reports and has advanced analytics
- The platform offers loyalty programs and multiple methods of payments
- It integrates with other hardware and eCommerce platforms
- It offers a wide variety of applications that can extend the functionality of your POS in Lightspeed Retail
Cons
- It is more expensive than other POS software
- An annual contract is required for the less expensive plan
- It’s complicated if you want to cancel
Pricing
- Lean plan:
- Annually: $119/month
- Monthly: $139
- Standard:
- Annually: $169/month
- Monthly: $199
- Advanced:
- Annually: $249/month
- Monthly: $319
3. Shopify POS
Shopify POS integrates one of the best retail POS software in the business with the Shopify ecommerce platform. However, Shopify does not offer free POS software like some competitors, and the platform is geared toward retail, so firms in other industries may seek alternatives. It provides real-time information for better visibility and advanced reports to enhance performance.
Key features
- Omnichannel selling
- Smart inventory management
- Employee management
- Flexible checkout process
- Multi-channel products management
- Customer information management
- Actionable reports generation
- Seamless payment features
- Marketing tools integration
Pros
- Users can sync with Shopify web store to provide an omnichannel experience
- The cash transactions can be completed offline
- It integrates with a wide range of other applications
Cons
- It is not accessible without a paid Shopify website package
- The advanced features are costly
- The free trial is cut down from 14 days to 3 days.
Pricing
- Basic:
- Monthly: $25
- Yearly: $19/month
- Shopify:
- Monthly: $65
- Yearly: $49/month
- Advanced:
- Monthly: $399
- Yearly: $299/month
4. Vend
Vend is a cloud-based retail management and point-of-sale system. The software enables real-world retail store owners or managers to have complete visibility and control over one too many retail stores. The software operates in the browser and fully supports online and offline modes, allowing users to continue selling even if the internet goes down.
Key features
- Point of sale capabilities
- Inventory management
- Product updates
- Customer management
- Reporting and analytics
- Apps integration
Pros
- It provides simple employee onboarding with a unique training mode
- The platform can accept payments in offline mode
- It provides excellent stock management and support for a large number of payment partners
Cons
- The reports generated by low-cost plans can need more information
- It is not suitable for restaurants
- There is no offer free plan
Pricing
- Lean:
- Monthly: $139
- Yearly: $119/month
- Standard:
- Monthly: $199
- Yearly: $169/month
- Advanced:
- Monthly: $319
- Yearly: $249/month
5. Toast
Toast is a restaurant management software designed to streamline day-to-day processes. It comes with everything needed to accept payments, track inventory, manage staff, and offer extras like promo codes and gift cards. Toast provides an ideal balance of features, value, and usability, making it our top pick for restaurant point-of-sale (POS) systems. With Toast, restaurant owners can efficiently manage their business and below are some of the benefits it offers.
Key features
- Order management
- Contactless ordering
- Commision-free digital ordering
- Automatic marketing campaigns
- Payroll and employee management
Pros
- It accepts different payment methods
- This software is specifically designed for the restaurant industry
- 24/7 customer support is available at all levels of pricing
- It is simple to use in multiple locations
- Many low-cost entry-level packages are available
Cons
- The scalable packages and pay-as-you-go make calculating exact costs difficult
- The cancellation costs and switching plans are expensive
Pricing
- Quick start bundle: $0
- Core: $69
- Growth: $165
- Build your own: custom pricing
How To Implement A Retail POS System?
If you comprehend the steps involved, setting up a POS system can be a prompt and effective process. To set up a retail POS system for your business, you can follow these seven easy steps:
1. Determine your needs
Before selecting a retail POS system, identifying your business needs and the features you require is essential. Consider components such as the size of your business, the type of products you sell online, and your budget.
For example, a retail POS system for small businesses should include securely accepted payments and come with software to make administrative work more manageable.
2. Research POS providers
Researching POS systems involves identifying business needs, looking for retail POS software reviews, considering features, evaluating vendors, comparing pricing, looking for integration, feeling the ease of use, and requesting demos. Retailers, therefore, can compare point-of-sale systems and find one that meets their needs and helps them improve efficiency and profitability.
3. Install hardware
Retailers should select compatible and high-quality hardware, install it conveniently, configure it according to the vendor's instructions, and maintain it regularly. It is important to select a retail POS system that has a simple installation process.
4. Setup software
Setting up the software for a retail POS system involves installing the software, setting up user accounts and inventory, configuring payment options and receipts, testing the system, and backing up data regularly.
5. Train employees
Retailers should provide comprehensive training to all employees, focus on critical features, provide hands-on training, offer ongoing support, and encourage feedback.
6. Test the system
Testing a retail POS (Point of Sale) system involves testing all features, transactions, hardware, integration, security, load, and real-world settings to identify and address any issues before it goes live. Business owners can specify and address any problems with the system before it goes live, ensuring that it operates smoothly and efficiently.
7. Go live
Once you are satisfied with the system, launch it in your store. Remember to monitor the plan regularly to ensure that it is functioning correctly. Update the system as needed to address any issues or to take advantage of new features.
Challenges In Retail POS Systems
Despite the benefits, the POS system also presents challenges that retailers must navigate. Overcoming these obstacles is essential to maximize the efficiency of systems and achieve effective retail operations.
1. Technical issues
A frozen POS software screen or malfunctioning hardware, such as a printer or cash drawer, can be disastrous during a transaction. It highlights the importance of investing in a reliable POS system that enhances productivity and revenues when upgraded correctly.
2. Security risks
Retail POS systems contain sensitive customer data, making them a prime target for cyberattacks. Retailers must deploy strong security measures to protect customer information and prevent data breaches.
3. Employee training
Employee training is a significant challenge in the retail POS system, requiring proper planning and resources to ensure adequate and regular training for new and existing employees, which can be time-consuming and require additional resources such as trainers or training materials.
4. Integration challenges
Integration challenges arise when the POS system needs to communicate and share data with other software systems, such as inventory management software or accounting software. Ensuring seamless integration can be challenging, requiring technical expertise and additional resources.
5. Maintenance and upgrades
To ensure optimal performance, the POS system requires regular maintenance and upgrades. However, this can be time-consuming and disruptive to business operations, requiring careful planning and support from IT professionals.
6. Customization
Customization of the retail POS system is challenging as it requires technical expertise and additional resources to modify the system's user interface or add new features to meet unique business requirements. Modifications may also introduce new vulnerabilities or compatibility issues, requiring careful testing to ensure they do not compromise the system's stability and security.
Measuring the Success of Retail POS Software
Measuring the success of retail POS software is crucial for businesses to evaluate the effectiveness of their investment and make informed decisions.
1. Increased sales
To measure increased sales through retail POS software, retailers can analyze sales data by product category, customer segment, and period. You can track conversion rates and average transaction value, personalize marketing efforts, and implement promotional campaigns and loyalty programs. Retailers should regularly assess the system's impact on sales and adjust strategies for optimal results.
2. Improved efficiency
Retailers can track the time it takes to complete tasks such as processing transactions, managing inventory, and generating reports. You can also compare these times to previous periods and assess the impact of the POS software on overall business operations.
3. Customer satisfaction
Customer satisfaction can be measured through customer feedback, reviews, and metrics such as customer retention and repeat purchases. Retail POS systems lead to a better customer experience and higher satisfaction levels.
4. Inventory management
To track the effectiveness of POS software with inventory management, business owners can measure inventory turnover rate, stock levels, and product availability.
5. Employee productivity
To measure employee productivity through retail POS software, retailers can track sales performance metrics, set sales targets, optimize employee scheduling, and streamline workflows. By analyzing data and providing targeted training, retailers can improve employee performance, reduce labor costs, and increase sales.
6. Cost savings
Measuring cost savings through retail POS software involves tracking metrics such as inventory carrying costs, labor costs, and transaction costs, as well as optimizing pricing and promotions. By leveraging the capabilities of the POS system, retailers can identify areas for cost savings and implement strategies to reduce costs and increase profitability.
Current Trends Related To Retail POS Software
Retail POS software is constantly evolving to meet the changing needs of modern businesses. Here are some of the current trends in retail POS systems:
1. Cloud-based solutions
Cloud-based systems are a popular solution that allows servers run by the POS company to be accessed through the internet. These servers are secure, up to date, and have private sections for individual businesses, making them more convenient and cost-effective for small businesses.
Cloud-based systems are a continuing trend in the POS industry, with 22% of current retail POS systems already in the cloud and 29% of retailers planning to move to cloud-based systems by 2024. The cloud lightspeed retail POS market is expected to grow to $6 billion by 2025.
2. Mobile POS
Mobile POS systems allow businesses to take orders at trade shows, curbside, or off-site locations andreach $2.88 trillion sync with their main store. These systems have become increasingly popular due to their versatility and convenience. Mobile POS transactions alone were forecasted to reach $2.88 trillion by the end of 2022.
Furthermore, it is predicted that by 2025, there will be 85.6 million mPOS users in the US. And the average mobile transaction value would rise from $7,000 in 2020 to $11,755 in 2025. These statistics highlight the continued and growing prevalence of untethered shopping.
3. Integration with eCommerce
Retailers can sell both in-person and online utilizing a simplified POS system as suppliers update their systems to make it possible to set up eCommerce sites with existing inventory. In general, multi-channel POS solutions include a variety of features for managing inventory, customers, and orders and smoothly interface with other online sales channels. These POS solutions include many useful features for users to create eCommerce websites.
4. Artificial intelligence
AI is transforming the POS market, providing businesses with advanced tools to improve the efficiency of their retail operations. AI integration in POS software enhances employee management competencies and transaction processing, resulting in greater individualized and improved client experiences.
AI also revolutionizes payment transactions by enabling instant payment processing fees out of various payment types, including social apps, mobile apps, online payments, and in-store payments. Early adoption of AI-powered POS solutions drives businesses' growth and operational efficiency.
5. Contactless payments
Digital/mobile wallets are gaining popularity. While they only contributed 6% of POS transactions in 2019, that figure is predicted to rise to 15.5% by 2024. The payment choices include Google Wallet, Apple Pay, PayPal, and other payment apps.
6. Social commerce
One trend in retail POS systems is the integration of social commerce capabilities, allowing retailers to sell products directly through social media platforms such as Facebook and Instagram. These systems offer features like direct product links and personalized recommendations based on social media activity, helping retailers reach a wider audience and drive sales. Social commerce-enabled POS systems are expected to grow in popularity as social media platforms become increasingly important for sales.
FAQs
It depends on your technical expertise and business complexity if you need help setting up a retail POS system. If you're tech-savvy, you can set it up yourself. But if not, it may be beneficial to seek help from a professional or vendor support team, as they offer installation, training, and technical support services. However, it's crucial to consider the cost-benefit analysis of seeking professional help.
You'll need a computer or tablet, a cash register, a scanner for barcodes, a printer for receipts, and a card reader to use a Retail POS System. Depending on the business's needs, additional hardware, such as a customer display or kitchen printer, may be required.
Maybe. Many retail POS systems can integrate with other third-party software, but you must check with the POS providers to prevent conflict and data loss.
The cost of a retail POS system varies depending on the system's features, the licenses required, and additional hardware. Subscription plans can start at a monthly fee of $0 per location, while one-time purchase options range from a few hundred dollars to over $1,000. Additional costs may include hardware, installation, ongoing technical support, and add-on features.
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