Best POS Systems for Small Businesses

Posted by Ved Krishna Dwivedi Date Posted: 7th Feb 2023

Regardless of the size of an establishment, (point-of-sale) pos systems have become an integral component of the business world, streamlining and facilitating overall business operations. Characterised by quick and efficient transactions, inventory management, customer relationship management, reporting, marketing, and many other exciting features, the point of sale (POS) systems are a comprehensive solution that effectively replaced the formerly used heavy cash registers.

Different business operations involve different types of functions, and, owning the right (point-of-sale) pos system assures smooth business operations. However, choosing the right pos solution can be quite challenging.

In this blog, we have enlisted some of point of sale (POS) systems that have been deemed to be the best in 2023, especially for small businesses.

But, before diving into the list, let us discuss,

Point of Sale (POS) Systems

Also known as the point of purchase, the point of sale (POS) is the place in a store where customers pay for their purchased products/services, thereby completing the transaction, for example, the checkout counters at retail pos system stores. However, if you run your business on a mobile point of sale (mPOS) through which you can checkout customers from any place within the store, the entire store becomes your point of sale.

The (point-of-sale) pos system involves a combination of some hardware components and a powerful software that integrates these hardware components and helps manage and streamline your business operations. Your choice of point of sale (POS) setup would depend on your choice of technology, payment method, receipt printing method, and others.

The key function of a (point-of-sale) pos system is to process payments and manage sales. Modern point of sale (POS) systems allows you to checkout customers from any location, just with the help of a point of sale (POS) application and an internet-enabled device.

Components of a Point of Sale (POS) System

POS systems function with the help of two components:

Hardware: The hardware components include the physical devices that facilitate business processes within a store. The commonly seen devices include:

POS Terminals
Cash Drawers
Credit Card Readers
Payment Processors
Barcode Scanners
Receipt Printers

Some businesses require additional hardware equipment including:

Customer-facing Displays
Scales

Software: The software used in a (point-of-sale) pos system is the operating system that integrates all the hardware components and tracks and manages the overall business operations within a store. It is the backend of the point of sale (POS) system which is accessed using a browser or app window. An efficient point of sale (POS) software allows users to operate and manage business operations from a central location. Primarily, there are two data storing methods: on-site and cloud-based. As the name suggests, under on-site data storage, data is installed on local servers and you would need to purchase software licenses to use them. On the other hand, cloud-based data storage often referred to as Software-as-a-Service, is hosted online, allowing you access from any location.

For the smooth functioning of a point of sale (POS) system, it is important that you pick the right software that supports all the advanced features and capabilities.

Best POS System for Small Businesses

1. Lightspeed POS: Known for its scalability and easy usage,the Lightspeed POS System is preferred by businesses of all sizes. EMV-compatible and PCI-compliant, this solution ensures data security at an optimum level. Other than this, Lightspeed is perfect for inventory management and data reporting that helps users track their sales and profits in real-time. Using Lightspeed, you can keep your customers engaged by offering them exclusive deals and discounts. At the same time, the secure automated recurring payment option makes it easy to manage memberships and subscriptions. If you are looking for a point of sale (POS) system that offers a customer loyalty program, Lightspeed is the right choice for you.

USP : Offers Excellent Customer Loyalty

2. Square POS: If you are looking for a point of sale (POS) solution within a strict budget, Square POS is your go-to option. There’s no monthly fee involved within this; all you need to pay is the processing fee of 2.6% and $0.10 per transaction. Easy-to-use, the Square POS doesn’t require any special training process to get a grasp of its functioning. You can accept payments in cash, online, or through your phone. Not only this, Square POS also allows you to collect leads, market your brand via emails or texts, and create customer loyalty. Its easy integration with social media platforms like Facebook and Instagram makes it the perfect point of sale (POS) solution if you wish to expand your selling to the online shopping world while managing your entire business operations from a single location.

USP : Perfect for Businesses on a Strict Budget

3. Shopify POS: Among the most popularly used pos systems for sale, this point of sale (POS) solution is preferred by businesses of all sizes. Using Shopify POS, you can transform your mobile into a point of sale (POS) terminal. Besides, it is fully integrated with advanced tools and services and is perfect for both online and offline stores, generating precise sales data from both these channels. Other than this, Shopify offers an extensive range of features like inventory management, staff management, and customer relationship management. Its compact and easy-to-use hardware components and in-built payment processing option add to the appeal.

USP : Perfect for Retail Business

4. Korona POS: This point of sale system comes with four levels of plans; the highest tier is designed for Enterprise businesses. There are other plans including Core, Advanced and Plus, and characterised by unlimited users, unlimited sales, no transaction fees, an e-store, API access, promotions, and gift cards. However, Korona’s inventory and time tracking and management would require you to take up an advanced plan, which starts at $59 per month.

USP : Known for No Transaction Fees

5. Clover POS: This (point-of-sale) pos system comes with an array of plans and pricing options to suit any budget but it comes with high hardware costs. It offers a 30-days trial period when there are no monthly fees involved. Feature-rich and easy-to-use, the Clover POS allows businesses of all sizes to manage their transactions perfectly. One of the biggest advantages of using this point of sale solution is integration. You can choose from an array of software apps from the Clover App Market that allows you to manage different aspects of a business.

USP : Perfect for Integrations and is Suited for Businesses of all Sizes

Wrapping Up,

While purchasing your point of sale (POS) system, make sure you look for the features that point of sale (POS) software has to offer.

Some of the common features that the point of sale (POS) software essentially offers include:

Credit Card Processing: Ensure that the software you choose allows you to process payments using credit and debit cards.

Loyalty: To build an effective customer bond, your point of sale (POS) software should offer loyalty programs or gift cards.

Appointment Scheduling: One of the key features that make a point of sale (POS) software appealing is its ability to offer online booking and appointment reminders.

Inventory Management: Your point of sale (POS) software should allow you to track inventory levels and notify you when your products are running low on stock.

Customer Relationship Management: While picking your point of sale (POS) software, look for a system that incorporated a CRM feature that will help you track your customer’s purchase history, contact details, and more.

Reporting: Albeit, all point of sale (POS) software offer data reporting, some are more advanced than the rest. Therefore, you need to look for a point of sale (POS) software that offers detailed reports on your overall business operations and performance.

eCommerce: If you are looking to expand your business into the online platform, pick a software that is equipped to offer a robust eCommerce solution where you can manage your inventory and orders from a single location.

Once you’ve decided on the perfect point of sale (POS) system for your business, you need to consider where you would purchase it from.

POS Sales Australia is the answer to your search!

We are a leading online reseller of premium point of sale (POS) hardware, consumables, accessories and bundles, all available at competitive prices. Browse through our inventory and make your purchase with us today. Or, should you wish to get more personalised assistance with your shopping, contact us and our experts will guide you in choosing the right solution to fit your budget and business needs perfectly.