10 Best Point of Sale Services of 2018
Research top rated Point of Sale services and how they can help grow your business. See the top POS reviewed & compared.
Point of sales (POS) services are the software packages that process your business’ sales and accept payments. Ideally, they should also offer additional services such as inventory and staff management, marketing tools, customer databases, and task automation. Many POS systems now come in complete packages which provide the software, hardware, and credit card processing in one complete starter system.
POS services are essential to any type of business that sells to the public, from restaurants, retail stores, salons, spas, even to health services like a doctor’s office. A good POS system makes customer sales easier, boosts productivity, streamlines reporting, and generally improves business performance. The most basic system should include inventory tracking, data collection, mobility, report generation, and customization, in a user-friendly format.
When comparing different POS services, evaluate which type is most convenient for your business. Options can range from software-only services that run off iPads or mobile devices, to long-term contracts for complete packages with include hardware, software, and processing. Consider whether additional features such as online integration and employee-management tools make sense for you.
Customer support is essential to keep your POS system running in case of a technical problem, so before making your final decision, compare customer reviews and company reputation. In terms of pricing, watch out for early termination fees, automatic contract renewals, rejected hardware returns, fund withholding policies, personal guarantee requirements, and additional services clauses. Finally, remember to compare as many services as possible, in order to make an informed decision.
Top 10 Companies
- Layered security – PCI DSS compliant
- Mobile App
- Free download
- Available only for US, Canada and Japan
- Supports multiple currencies
- Mobile point of sale
- Retail, food services
- Inventory management
- Automatic tax calculations
- Customer management
- Loyalty programs
- No setup fees
- Online or on-store solutions
- Mobile commerce ready
- Social media integration
- Split tender
- PCI – DSS standard compliant
- Highly scalable
- Employee management
- Table management
- Detailed reports
- Free POS system available
- Online/ offline POS solutions
- E-Commerce ready
- Smart phone card processing
- Accepts all major credit cards
- Personal account manager assistance
- 30 day free trial
- Inventory management
- Customer management
- Multiple outlets
- Personal setup assistance
- PayPal card payments
- Mobile device compatible
- PCI compliant credit card payments
- Detailed reporting
- Kitchen management
- Send messages through POS terminals
- Cloud-based with Squirrel IQ
- On premise or as service solution
- PCI Compliant
- Point-to-point encryption (P2PE)
- Integrated signature capture
- Flexible hardware solutions (3rd party providers)
- No upfront costs
- Lifetime equipment warranty
- Cloud-based reporting and POS management
- On-site installation
- Employee management
- Subscription based service
How We Compare Point of Sale Services
The best POS software provides a mix of Point of Sale, Customer Relationship, Retail Accounting and Inventory Management features.
Point of Sales
This feature generally refers to the POS systems ability to process payments. It also includes receipt printing, discount processing, loyalty card programs, gift cards, refunds and returns. Point of Sales services should be able to handle multiple transaction and payment types for better customer service.
Transaction/ payment processing
- Split tenders – support two or more payment types
- Credit card processing
- Barcode scanning
- Loyalty programs
- Gift checks
- Special promos
- Time limited offers
Customer Relationship Management
POS CRM should be able to store customer information (profile) and buying history (purchases). Building your customer database makes it easier for you to market new services, products and even include them in your sales, rewards campaigns. Tracking customer purchases gives you a better understanding of individual preference and create a more detailed customer profile.
- Customer database (spending history, personal information)
- Rewards, loyalty programs
- Recurring payments
- Email marketing
- Customer feedback
- Payment preference
Focuses on accounting data and creates reports on business performance. Sales, expenses (rent, payroll, city services, inventory and purchases). Accounting features should be able to provide bank reconciliation and generate sales reports.
- Report generation
- Business intelligence
- Accounts payable/ receivable
- Bank reconciliation
- Payroll processing
- Sales audit
Keeping track of you inventory is an essential task for any business. Your POS system must be able to display this information and in some cases alert you when it reaches below accepted levels. Inventory management does not only include monitoring inventory levels but also includes labelling, tagging items.
- Real-time inventory
- Barcode generation
- Inventory forecasting
- Variable pricing
In this section we look at compatible devices and equipment used with Point of Sales system and the different capabilities of the POS system. Tablets and other mobile devices, for example, allow employees to accept and process transactions directly with the customer. POS systems can also allow employees to check product availability or automatically update inventory once a sale is made.
- Monitor (touchscreen)
- Barcode scanner
- Cash drawer
- Check reader
- Terminal (Workstation)
- Signature capture device
- Receipt printer
POS systems are offered as packages and picing is based according to the options and features included. Cloud-based POS are usually priced on a monthly, per terminal plan, while POS software requires a one-time payment, per terminal basis.
POS systems basically provide the same services but some businesses require a more unique approach to its point of sales needs.
- Sales (Retail)
- Services (Restaurants)
Point of Sales services are offered through two platforms. Cloud-based POS is ideal for businesses with multiple locations. This makes it easier for multiple branches to share information, especially for accounting and inventory purposes.
This type of POS system is a subscription based service and requires an online connection. Advantages of using a cloud-based system include automatic updates, which eliminates downtime due to software failure.
Software based POS systems are available through download or storage media (CD, DVD, flash drive) and usually require a one-time payment.
What's important to know about Point of Sale Services?
Who could use a Point of Sales system?
If you are accepting payment for goods or services provided, you may be interested in a Point of Sales (POS) system to help you manage your business. A POS system performs a number of different functions to help you manage your sales.
One major feature of a POS system is that it acts as a cash register. You can calculate the total amount for goods and services, adjusting for discounts and promotions, process payments (including running credit and debit cards) and issuing receipts. Some POS systems are compatible with mobile devices, such as tablets and smartphones, so you can bring your business with you wherever you go. Additionally, most POS systems will also help you track sales and inventory, help you run reports on past sales, and much more. No matter how big or small your business, there is a POS system available to keep your sales organized and your business growing.
How much does a Point of Sales system cost?
The answer to this question depends on how advanced of a system your business requires.
If you are looking for a simple program for a smaller or medium size business, like a shop or cafe, there are a number of great systems that will get you started for free, and will only charge a transaction fee for any credit or debit card transactions.
More advanced systems that may be needed to manage a restaurant or hotel for instance, may run you a few hundred dollars up to a few thousand dollars to get started. However, these systems are not just meant to assist you with payment and sales, and can help you manage your inventory, make reservations or bookings, maintain customer profiles, and perform other administrative tasks to help your complex business running smoothly. And of course, the credit or debit card processing fee still applies per swipe or transaction, even for more costly systems.