Operating a business, especially a retail store, involves a range of administrative, management, and marketing skills. From tracking and managing the inventory levels to drawing out the monthly sales report, these skills are crucial for the smooth functioning of your store. Owning a robust point of sale system can go a long way in ensuring that all your operations are working in sync.
A point of sale (POS), also known as the point of purchase is the place in a store where all the transactions take place. To process the transactions, a combination of robust hardware and powerful software is required, known as the point of sale (POS) system. Available in multiple shapes and sizes, different POS systems support different features.
In this article, we have discussed some of the popular POS systems in Australia. But to choose the right one, you need to know about the essential functions a point of sale (POS) system performs.
Key Functions of a Point of Sale (POS) System
1. Processing Payments: The first thought that comes to mind when someone hears the term ‘POS’ is payment processing. Even though a point-of-sale system is an all-in-one solution for many crucial tasks, payment processing is one of the key tasks. POS systems facilitate a transaction in numerous ways. Online debit/credit card processing is the most basic payment processing functionality that is beneficial, especially for the eCcommerce companies where transactions happen online. To process card payments in a physical store setup, an EMV-enabled card reader will be required.
2. Managing Transactions: The point of sale system is important for managing transactions as they support a navigable database, issuing receipts, and customer tips. Processing customer payments conveniently and quickly is one of the factors that enhance customer’s shopping experience.
3. Reporting Sales: Point of sale (POS)
systems are useful in tracking the performance of your business. Installing
powerful POS software can track business metrics and produce reports to measure
the financial status of your business. You can make informed business decisions
based on these reports. These data can also help in determining which products
are selling better, your profit margins, and the money you make each month.
P.S. if you are looking for powerful POS
software in Australia
, talk to an expert at POS Sales Australia and
pick the perfect software to support your business needs.
4. Managing Inventory: If you sell products, inventory management is another essential function of a point of sale (POS) system. You can track the stock levels of your products, determine which products are selling better and restock them, and stock fewer products that are not performing better. Manually tracking and managing inventory is not only time-consuming but is also error-prone.
5. Managing Customer Relationship: To build a strong customer relationship, having extensive customer data comes in handy. Point of sale (POS) systems can record all customer information that can help you personalise rewards in the form of discounts, coupons, and gift cards for your loyal customers, or entice a new customer to become a repeat customer.
6. Managing Employee: Besides managing customer relationships, a point of sale (POS) system helps in maintaining a strong employee relationship too. You can track the performance, their working hours, and decide on the sales commission, tips, and promotions. Clocking their shift can give you an idea of the overall productivity.
Now that we have an idea about the functions a point of sale (POS) system performs, let us talk about the highly favoured point of sale (POS) systems in Australia.
1. Vend POS: This is one of the top providers of a POS software in Australia. Used by numerous businesses across the globe, including some big-shot companies, Vend is known for its comprehensive suite for small businesses that has helped in the successful management of the growth of many businesses. Vend offers an extensive range of features such as inventory management, customer tracking and managing, tax reporting, staff scheduling, and others. Vend also integrates with the third party apps and services to offer a better comprehensive solution. Perfect for businesses like retail stores, hospitality, and food service, Vend POS Bundles can be used by both small and large businesses with multiple locations across the country. Even though the biggest drawback of Vend software is its cost, compared to other POS software, it is justified considering the robust features and functionality the POS system offers.
2. Shopify Plus: We are aware that Shopify Plus is one of the leading eCcommerce platforms. But, did you know that it is one of the most powerful POS Systems for businesses of any size? Shopify Plus allows you to manage your entire business including sales, inventory management, customer data, and more from one intuitive platform. Since it is a cloud-based system, you would not require any custom hardware or software installation. Easy to set up and use, you can integrate with the eCommerce platform for an enhanced experience. Shopify Plus point of sale (POS) system is perfect for businesses of all sizes that sell their products online and offline. This POS system offers multiple features including inventory management, sales tracking, customer tracking, staff management, etc. The only drawback of Shopify POS system is that it lacks features for just physical stores. But, if you want to enjoy the flexibility of an eCommerce store along with your point of sale (POS) system, Shopify Plus is your solution.
3. bePOS: If you are looking for the perfect point of sale (POS) system specifically for retail purposes, bePOS is your go-to option. Supporting cloud-based software, this POS system will handle all your business needs including inventory management, customer tracking, sales analysis tools, and others. bePOS is a widely preferred option by many businesses because of its versatility and easy to use. However, the only drawback is that it is expensive. But the all-inclusive features of bePOS make it appealing for businesses of any size.
4. Lightspeed Retail POS: A comprehensive retail POS system that suits businesses of any size, Lightspeed Retail supports an extensive range of features like all the other robust POS systems including inventory management, sales tracking, customer tracking, staff management, and more. It is a cloud-based point of sale (POS) solution that does not require any hardware or software installation. Since it is user-friendly, it can be used by everyone in your business conveniently. With Lightspeed Retail, you can customise the POS experience too so that it can meet your unique needs. Starting from retail businesses to restaurants or eCommerce, this POS system is a reliable and feature-rich solution for any business. The price and complex pricing structure is the main drawback of Lightspeed Retail but you can contact customer support for a detailed understanding of the price structure. Its flexibility and robustness make Lightspeed Retail one of the leading retail point of sale (POS) systems in the market.
5. Square POS: If you are looking for a cloud-based point of sale (POS) solution that involves easy set-up and is perfect for businesses of all sizes, Square POS is the best option for you as it also integrates with Square’s mobile POS ( mPOS) eCommerce platform for a smooth experience. This point of sale (POS) system is perfect for businesses that sell both online and offline and for businesses that require managing inventory, tracking sales, and accepting payments on the go. Square POS is versatile and budget-friendly. The only drawback of this point of sale (POS) system is that it lacks features for businesses that sell offline only.
6. Bindo POS: A feature-rich point of sale (POS) system, Bindo POS is also perfect for businesses of all sizes and supports features like inventory tracking and management, product pricing tools, forecasting tools, tax reporting tools, and others. Its elegant user interface makes it a convenient option for any business. Bindo is a cloud-based POS system and doesn’t require installing any software or hardware. It is one of the most widely preferred point of sale (POS) systems in Australia, especially because of its reliability, affordability, and easy usage. Bindo POS system offers end-to-end customer support and is effective for various industries. It integrates with an array of third-party applications, making it the most viable option for businesses that require a comprehensive point of sale (POS) system. Even though Bindo POS lacks some essential point of sale features, it is still one of the affordable and popular POS systems.
7. Erply: Perfect for businesses of all sizes, Erply is a user-friendly interface that can be used easily even by a non-tech-savvy employee. It is one of the affordable and advanced point of sale (POS) systems available in the Australian market and is cloud-based-making it easy to get started. Tailored specifically for small businesses, Erply comes with a wide range of features that are perfect to start a new business. The main limitation of this point of sale (POS) system is that the offline mode is not as effective as the online mode. However, it is perfect for online businesses in their nascent stage and is a reliable and affordable option.
8. Hike POS: One of the affordable and versatile point of sale (POS) systems, Hike POS is a user-friendly and easy to use interface that supports a wide range of features like inventory management, visualising sales and analytics reporting, customer relationship management, and more. Perfect for retailers in the fashion industry, Hike POS is one of the best POS systems in Australia. It is cloud-based and maintenance is included in the monthly subscription fee. If you are on a tight-budget and require a point of sale (POS) system that supports multiple features, Hike POS is the perfect option for you.
9.Toast POS: Perfect for businesses of all sizes Toast POS is feature-rich and tailored to meet businesses of all sizes. It is one of the most affordable point of sale (POS) systems that comes will a simple subscription fee. Toast is user-friendly and has an intuitive interface which is convenient for employees who aren’t tech-savvy. However, the main drawback of Toast (POS) is that it does not support as many features as the other point of sale (POS) systems in the market. But its affordability and user-friendly interface make it a perfect option for many businesses.
10. ShopKeep by Lightspeed: The user-friendly interface is one of the most appealing features of ShopKeep. This point of sale (POS) system comes with a touch screen and card swipe to facilitate entering information effectively. ShopKeep has been successfully competing with other robust point of sale (POS) systems for quite sometime now as they upgrade the system frequently to suit modern businesses. Introduced in 2008, ShopKeep has grown exponentially and is being used by more than 100,000 businesses globally. It suits all types of businesses because most of its features are tailored to support different industries. You can either purchase the entire point of sale (POS) system upfront or pay a monthly subscription fee, whichever suits you better. ShopKeep also integrates with other software like QuickBooks easing the accounting and book-keeping process. If you are looking for an easy to use point of sale (POS) system, then ShopKeep is the perfect option for you.
Irrespective of the type of business you are into, it is essential to pick the right point of sale (POS) system for smooth business operations. The availability of numerous options in the market can be confusing for potential buyers. Hence, we have outlined the list of the widely preferred POS systems in Australia to facilitate your decision.
If you are looking for the best POS systems, POS Sales Australia is your one-stop-shop for all your POS needs. We have an extensive range of point of sale hardware, consumables, accessories, and bundles that would support your business. Browse through our official website or visit our store to get personalised assistance in picking the right point of sale (POS) system for your business.
For more personalised assistance with your shopping, get in touch with our experts who will help you make an informed decision.