What is a POS system?

A POS system, also known as a point-of-sale system, streamlines retail sales transactions. A cash register is a well-known example of a POS system. A barcode scanner, card reader, cash drawer, and receipt printer are common components of modern POS systems, which are a combination of hardware and software. A touchscreen is frequently used as the user interface. The most basic point-of-sale devices today are a tablet and a credit card reader.

  • You can track your sales and accept payments from customers using a POS system.
  • Businesses with more complicated requirements might also require a method of managing their inventory, clients, and employees.
  • Look for a POS system that can handle all of your company’s needs and is simple to use.
  • A business used to be able to ring up customers and accept payments with just a cash register. However, modern businesses also require a way to accept payments, monitor sales, control inventory, and produce reports. All of that can be taken care of by the appropriate POS system.

It can be challenging to determine which POS system will work best for your company, whether you’re looking for your first one or an upgrade. For you, we performed the evaluation of POS systems.  We took into account aspects like cost, usability, and overall functionality when conducting our review. We also looked for simple-to-install cloud-based solutions. Find out more about our top picks for POS systems for small businesses by reading on.

Choosing a POS System

You must decide what kind of system you require, what features you need, and how much you can afford before selecting a POS system. To reduce your options, ask yourself the following questions.

1.   Do you prefer a server-based or cloud-based system?
Mobile, user-friendly, and typically less expensive than server-based POS systems are cloud-based solutions. You can access your reports and other back-office features from anywhere with cloud-hosted systems. You don’t need to set up, maintain, and secure a local server because your data is stored in the cloud. However, if you don’t have dependable internet access, you might prefer a server-based system. Instead of hosting your data in the cloud, these POS systems are installed on a server and host your data locally. The benefit is that your POS system can operate without an internet connection. However, since you are in charge of the security and backups, you might incur additional IT and maintenance costs.

2.   Do you require POS software for a restaurant or a store?

The majority of POS companies offer separate software versions for restaurants and retailers. Some retail versions also provide add-ons or integrations that adapt the POS for service-based businesses. Other vendors offer only POS software for restaurants or stores, specializing in one industry. Make sure to select the best POS software for your needs. For instance, restaurant POS systems differ greatly from retail POS systems and are frequently incompatible with the demands of a retail environment. The wrong POS system could cost your company a lot of time and money, as well as force your staff to come up with workarounds that make the entire process difficult and ineffective.