A point of sale system is a solution that is comprised of both software and hardware to centralize all the business operations in a retail store. The POS is responsible for the management of all the purchases and sales being carried out in any business, keeping track of inventories, employees, marketing campaigns, and various other features. So today, we will read about the POS examples.
The vital purpose of any such system is to keep the business data organized, well-managed, and maximize profit. The POS knowledge will help your staff to work efficiently and enhanced productivity. In addition, a feature-rich and highly efficient POS system will help you easily handle costs.
A POS is a combination of both software and hardware amenities. Both can work together to keep track of all the purchases performed at any store. You should install and update the system according to the changing technology and business trends. In this way, you can maintain a close relationship with your valued customers.
Why do businesses need a POS system?
The sole purpose of any POS system setup by any store is to improve sales and profits by keeping track of all transactions at the retail store. These systems are also responsible for keeping the bossiness data well-management and it is also ensured that you don’t miss any transaction records.
The POS software installed in the computers of a retail business store also enables the businesses to accept and record cash flow and payments. It also makes sure that the products are always stocked. The software embedded in a POS system is mostly cloud-based. Monthly subscriptions are offered for each system.
Need to know more about the importance of the POS system? Check out the 7 reasons why you need a POS system for your retail business.
POS software features
The introduction of Point of Sale systems has led to the huge advancement in sales methods and procedures. These systems are well-equipped with features that help the retailers in managing their daily and monthly tasks in an effective and handle POS data efficiently.
The most common and prominent features of any POS system include the following:
- Sales management
- Inventory management
- Employee management
- Analytics
- Reporting
- Loyalty programs and offers
- Marketing integrations
5 Best POS System Examples
Popular POS examples include Shopify, Lightspeed, Vend, Magestore, etc. The top five POS systems which are helping retailers achieve their business goals and help them in carrying out their daily tasks in a productive manner are listed below:
Square
Square is one of the topmost brands in Point of Sale systems and the set of features, services, and price ranges associated with this POS is second to none. The Square software ensures that the businessmen enjoy a cost-effective, efficient, and high-quality product.
The Square app developed in iOS platform is available free of cost for end-users and helps them in managing their sales and purchases well.
The key features of this highly reliable Point of Sale brand include:
- Detailed customer profiles
- Detailed reports and analytics
- The staff permissions are unlimited
- High performance
Lightspeed POS
The Lightspeed Point of Sale system is also listed among the top POS systems with its amazing set of features and high-level performance. The inventory management module embedded in Lightspeed allows the business personnel to carry out their day-to-day activities in a highly organized manner.
The inventory system includes unique features such as importing items from various pre-loaded catalogs to track the incoming and outgoing products of each store. The staff can also add filters and customized options to the point of sale systems. For instance, they can group the items according to their types and categories. Other amazing features include granular detailing such as size, style, and color of the product.
The most economical package offered by the Lightspeed POS costs up to $99 each month. This package covers the registration of a maximum of five employee accounts, onboarding features for sales staff, keep track of transaction analytics, export reports, and support which is available 24 hours a day and 7 days a week.
This point of sale system also has different user permissions and account types for store managers, salespeople, and other business roles. The Lightspeed POS can connect with devices such as scanners, iPad stands for keeping the devices in the proper position, cash drawers for managing cash, and receipt printers for handing out to customers during transactions.
The prominent features include:
- Inventory management
- Integrations libraries
- Onboarding webinars for valued customers
>>> Might you like: Best Lightspeed alternatives and competitors in retail [2024]
Shopify
Shopify is one of the top point of sale systems for integration with e-commerce-based retailers and stores. The POS clients of this amazing brand are provided with their own online store. They can also manage their products online and reach out to people through various channels like social media, etc.
The additional features include sales and purchase inventories, employee management and profiles, daily and weekly analytics, discount codes and offers, and a mobile-based application to support the users. The support team is also available 24/4 through different channels such as email, live chat, and phone.
The prominent features of this amazing POS service provider include the following:
- Online store
- Amazing discount offers and codes
- A free mobile application on Apple store
Vend POS
Next, we would like to introduce Vend — another POS example that is famous for its efficient third-party integrations and other amazing features. Additional modules embedded in this system also include payment processing modules, sales, and inventory management systems, customer profiles, split payments, amazing offers, and gift cards, payments with contact information, e-commerce integrations, etc. All these amazing set of features can help the stores in making seamless sales through several channels such as digital, physical, and mobile.
Other prominent features include:
- Highly useful e-commerce features
- The offline mode helps users in managing data without an internet connection
- Support for iPad, Mac, and PC.
Bonus: Download our FREE POS comparison chart featuring 5 POS systems from Magestore, Ebizmarts, ConnectPOS, Lightspeed, and Vend.
Magestore POS
Magestore offers POS for both Magento and Shopify merchants. The Magento POS from Magestore comes with robust functions for scalability and customization, making it ideal for medium to large businesses looking to manage omnichannel operations. It enables you to handle thousands of orders daily with a quick order creation and checkout process. All the data of products, orders, inventory, customers, etc, are synchronized in real time from all channels. Customizations are flexible according to your business needs.
On the other hand, Magestore POS that integrates with Shopify also comes with a wide range of features at an affordable price. It enables order creation in under a minute, efficient inventory management, and improved employee performance. This POS is compatible with multiple hardware options and seamlessly integrates with various marketplaces, ERP systems, CRM platforms, and many other third-party solutions to streamline your business operation.
The key features include:
- Speed up your revenue generation with our robust and seamless POS system
- Intuitive and easy-to-understand user interface
- Convert your sales easily with the help of our amazing sales modules
- Manage your inventories and keep track of all the minute details related to sales and purchases
- Compatible with multiple hardware (Datalogic, Zebra Technologies, Socket mobile, POS mate, Star Micronics, etc.)
- Process sales and purchases of any number and category of products accurately and without errors
- Offer multiple payment methods to enhance user convenience, including:
- Online payment
- Offline payment
- Split payment
- Partial payment
- Later payment
- Custom payment
- Ensure no offer or discount of the loyalty program is wasted
- Track inventory across all sales channels and locations. Ensure the right stock in the right place anytime
- Allow to check out both as a registered user or guest as well
- Avoids any kind of delays in transactions during rush hours due to the high speed and good performance
- Get a clear picture of your current business performance with extensive inventory reports & key sales metrics
- Integrate seamlessly with numerous 3rd-party services, including marketplaces (Amazon, eBay, Etsy), payments (Adyen, Stripe, Square), ERP (NetSuite, SAP), accounting (Xero, QuickBooks), shipment (ShipStation, FedEx)
I love your article about POS basics because of that I know it’s definition, benefits, features and types. Thanks for sharing such types of informatics articles. keep sharing.
This is very great information and useful knowledge. I have started cafe and POS is really helping me out and making my tasks easier.
I like what you said about using a split payment within the POS. I need to increase sales revenue. I’ll have to consider getting a software package that makes it all easier.
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