A Point of Sale (POS) system is the hardware and software used to process sales transactions for customers, either in store or online. POS systems work by calculating how much a customer owes on their purchase and then provides payment options. Sales are tracked and customers receive proof of purchase. Essentially, a POS software is a digital cash register.
POS systems can be used by all types of online or brick and mortar merchants that need a seamless, cost-effective way to process sales transactions and accept customer payments. However, POS systems are very heavily relied upon in the retail and hospitality industries, to the point that there are POS systems customized to these types of businesses, available on the market.
Key Features of POS Systems
Manage and record all sales: POS systems help companies streamline the process of tracking sales and improve sales history and financials by automatically recording each transaction.
Track customer behavior and individual customers: POS systems provide tools to help organizations track key customer behaviors, details, and purchasing patterns. POS systems can be integrated with customer intelligence tools and/or Customer Data Platforms (CDPs) to analyze customer data, and shape future marketing efforts and loyalty programs.
Help manage inventory: POS systems can be integrated with inventory management software to help businesses monitor inventory in real-time, set up low-stock alerts, and reorder products.
Handle bookkeeping and accounting: Integrating POS software with accounting software to track sales, taxes, expenses, and profits help organizations streamline their accounting processes and reduce errors.
Handle discounts and coupons: POS systems provide tools that allow businesses to easily and efficiently apply coupons, discounts, and promotions at checkout.
Handle reservations and bookings: POS systems may offer tools for booking appointments and making reservations, which help service industry companies manage occupancy, while also getting a bird's eye view of services and amenities that are popular (and vice versa).
Integrate with online shopping websites and apps: POS systems can be integrated with ecommerce platforms to help organizations sync customer data and sales information for online and in-store sales.
Top 10 POS Systems
Top 10 Point of Sale (POS) Systems sorted by Wheelhouse Score.
NetSuite / SYSPRO / SAP S/4HANA / Shopify / Aptean / Lightspeed / Sapaad / Microsoft Dynamics 365 Business Central / Kinetic / Revel
Aloha POS system, developed by NCR VOYIX, is a widely embraced point-of-sale solution within the restaurant industry, providing a comprehensive tool to manage restaurant operations efficiently.
Touchbistro POS is a hybrid solution for restaurants, bars and cafes. It provides the best of both scenarios – cloud and on-premise. All information pertaining to the restaurant is accessible anytime, from anywhere, and business operations can be managed remotely from any device. Even in case ...
LivePOS is a hybrid cloud Point of Sale solution designed specifically for the retail industry. The solution caters to the requirements of large business enterprises and global enterprises that are spread across multiple locations. The solution provides 24x7 support to its customers irrespective of ...
Lavu POS solution is focused at the restaurant vertical. It is a feature-rich solution which does more than just placing orders and processing payments. Lavu POS helps users to improve and streamline business processes in their restaurant through customized reporting, real-time data analytics and wo...
Retail Pro is a global leader in retail management software. Retail Pro POS is a complete point of sales solution that includes feature-rich POS, inventory management, merchandizing CRM, back office applications, store operations, reporting, analytics and accounting. Retail Pro has over 30,000 users...
Maitre’D POS from Posera Software Inc. is a robust POS solution for restaurants, cafes, fast food joints and all types of food service outlets. The solution is completely independent of the hardware and can be used on any platform. Maitre’D provides everything you need to manage your bus...
Erply POS converts any iPad, desktop or any other device with Internet browser to a full-fledged POS system that can manage inventory, process transactions and manage business activities. The software connects the main device to receipt printers, credit card swipers, cash drawers etc. Along wi...
Salesvu is a cloud-based sales management software that helps businesses streamline their sales processes, manage leads and contacts, and track sales performance. It offers a range of features to help sales teams manage their activities and stay organized, including lead tracking, contact management...
TouchSuite POS is an award winning iPad POS solution designed to meet the specific needs of restaurants, salons, and retail businesses. The solution is completely integrated with payment processing solutions to deliver end-to-end features for business automation. TouchSuite POS is essentially direct...
Verifone is a leading global provider of point of sale (POS) software solutions designed to streamline the payment process for businesses. Verifone's solutions are designed to be fast, secure, and user-friendly, ensuring that customers can complete transactions quickly and easily.
