POS or point-of-sale system facilitates payments and transactions like a cash register. But modern POS systems consist of a barcode scanner, card reader, cash drawer, receipt printer, and hardware and software. A credit card scanner is the most straightforward point-of-sale system of today.
POS systems help businesses to accept payments, monitor sales, and provide reports. The POS system can manage all of these tasks simultaneously. Some POS software costs as much as $200 per month, while some are available for free.
POS system provides a better user experience and increases customer satisfaction. POS system can simplify business operations and reduces errors. With the help of POS systems, you can secure the customer’s data, accessed anytime, to make a better marketing strategy.
Benefits of POS System
There are numerous advantages of using a POS system in business management. A POS system can simplify daily tasks for you and generate revenue. Here are some key benefits of using a POS system:
- Better user experience and customer satisfaction
- Improved company image
- Regular updates and security
- Better employee and promotion management
- Better Inventory management
- Quick and secured payments
- Better purchasing/supplier order management
- 24/7 access to data
- Simplification of operations
- Personalization of customer purchases
- Fewer errors
- Increased efficiency
- Cost reduction
- Advanced reports
- Multi-store functions
- Technical & technological support
Top 5 POS Systems
Many POS options are available to help you in business management. Some POS software costs as much as $200 per month, while some are available for free. Here are the top 5 POS systems.
TouchBistro is a flexible and customer-friendly POS system for hotel management. Some experts consider TouchBistro the best POS option because of its affordable pricing plans and user-friendly interface. TouchBistro helps create a customized solution for your hotel business for just $69 per month.
Why TouchBistro is the Best Option?
TouchBistro can manage online orders and reservations simultaneously for your businesses. With the help of TouchBistro, you can monitor table arrangements, menu items, and seating and send instructions to the kitchen accordingly. Its iOS version comes with a training mode to facilitate the team.
Because of TouchBistro’s pricing plans, you can get started with a low subscription plan and can upgrade it if your restaurant grows. It sends updates regularly to meet the new market trends. This makes TouchBistro an affordable option for your restaurant business.
Pros and Cons of TouchBistro
|Integrate multiple payment processors||TouchBistro does not offer a free trial|
|TouchBistro’s interface is easy to use||Upgradation can be expensive|
|Regularly upgraded||Limited third-party integrations|
You can opt for the following add-ons:
- Gift cards – starting at $25 per month
- Online ordering – starting at $50 per month
- Loyalty programs – starting at $99 per month
- Marketing – starting at $99 per month
- Reservations – starting at $229 per month
Clover is a good option for POS hardware, offering a wide range of hardware tools. It allows you to manage employee and client information apart from payment processing and online ordering. The software also integrates around 300 applications for you to create a customized solution for your business. This feature of the all-in-one solution makes Clover a different option for the POS system.
Why Clover is a Better Option?
Clover offers four high-quality hardware options:
- Clove Go: This portable card reader enables you to accept payments from anywhere in the world. The Clover Go displays all open, pending, and finished transactions, and you can examine extra business-specific data, such as discounts and gratuities. The Clover Go can be purchased separately or in conjunction with one of the existing Clover systems.
- Clover Flex: This mobile gadget enables you to receive payments from any location within a store. In addition to tracking sales, the Clover Flex may also be used to process client refunds. The Clover Flex can be purchased separately for a one-time cost or as an accessory for the Clover Station.
- Clover Mini: It provides the functionality of a complete POS system in a compact, handheld device. The Clover Mini may conduct payroll, manage employees, and track inventories. You may pay for the device in whole in advance or three equal monthly installments.
- Clover Station: The Clover Station is the most acceptable solution for any business that wants to process payments, provide POS reports, provide customer loyalty options, and schedule staff. You can purchase the Clover Station or upgrade to the Station Pro for a one-time price. The Station Pro includes extra features, such as collecting contactless payments and tips from guests.
Pros and Cons of Clover
|Well-designed hardware options||The pricing mechanism is complex to understand|
|Easy to setup interface||Complex sign-up process|
|Competitive payment processing||–|
Clover offers two plans for customers:
- Up to three guests
- 1000 Blocks
- 50MB upload
- Page Title Search
Pro: $8 monthly
- Unlimited blocks and guests
- 10GB monthly uploads
- Custom uploads
- Inbox and labels
- Full-text search across pages
Toast is a point-of-sale (POS) system for restaurants with hardware and software solutions. It offers three software options suitable for restaurants, and the interface is simple. Toast’s hardware is restaurant-grade and allows you to accept safe payments. Toast is an excellent solution for restaurant owners seeking a centralized management system.
Why is Toast a better option?
Toast’s insightful interface allows you to manage your restaurant’s front and back end with customization, delivery management, and tableside ordering. Toast’s in-person and takeout dining with three pricing plans make it more reliable to use. You can choose Toast Go for menu management and contactless payments.
Pros and Cons of Toast
|Toast offers a variety of accessories and hardware options||Not suitable for larger restaurants|
|Cloud-based software, even for a free plan||No third-party credit services|
|Secured online ordering, tableside services||–|
- The Starter Kit is free
- Perfect for restaurants with a single location that require only one or two terminals to get started
- Starting at $165 per month
- Menu management, table management, and reporting capabilities
- Offers three free months of online ordering, a $75 per month value
- Ideal for restaurants seeking to enhance income and take advantage of Toast’s entire suite of powerful features
- It contains everything in the first two packages, plus gift cards, loyalty programs, and the most effective email marketing tools.
- Contact the Toast Team for pricing information and activation
Lightspeed POS is suitable for retail and restaurant businesses. Its feature set includes advanced loyalty and inventory management tools. In 2020, Lightspeed acquired ShopKeep, an e-commerce platform that allows retailers to sell their products online. Apart from the retail sector, Lightspeed offers affordable pricing plans for all other businesses.
Why is Lightspeed a better option for Retailers?
Lightspeed POS offers cloud-based services for businesses. Its inventory management option assists retailers in managing inventory across multiple locations. Lightspeed offers a distinctive ‘Lightspeed Restaurant’ for bars, cafes, and restaurants.
Lightspeed’s golf management services make it one of the best POSs available in the market, as it’s used by more than 1000 golf courses across the globe. It allows golf course management user-friendly sheets, pro shops, and information about customer preferences. Because of its cloud-based services, you can access data from anywhere worldwide.
Pros and Cons of Lightspeed POS
|A good option for restaurants and golf courses||Annual contract for lower pricing|
|Tracks inventory across multiple locations||Not affordable for new startups|
|Integrates with 250+ apps|
- $79 per month for Lightspeed Retail
- $39 per month for Lightspeed Restaurant
- $139 per month for Lightspeed Retail
- $119 per month for Lightspeed Restaurant
- $239 per month for Lightspeed Retail
- 289 per month for Lightspeed Restaurant
- Customized for high-volume merchants
5. Square POS
Square POS is a good option for service-based businesses, retailers, and restaurants. It offers software and hardware options to accept payments across the globe. Square POS offers a free plan if you use its built-in payment method.
Why is Lightspeed a better option for businesses?
Square POS’s most attractive feature is its charging plans. It does not charge a flat fee but interlinks it with the client’s business sales. Square offers many add-ons like team management and customer loyalty.
Service-based businesses can use Square for customer appointments. Its app version is equally compatible with Android and iOS and enables contactless payments. Apple iOS’s Tap to pay option works within the square app.
Pros and Cons of Square POS
|Suitable for service-based businesses||Minimum features in the free plan|
|Contactless payments||No inventory management feature|
|Compatible with Android and iOS devices|
- $60 per month per location
- $40 per month per added device
- Custom pricing
The POS systems, as mentioned earlier, are some of the world’s best, offering all the necessary tools for business management. Some offer Android or iOS support, while others offer affordable pricing plans. You need to know your business volume to make a better decision.
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