A point-of-sale system or POS system processes sales transactions for retailers, restaurants, boutiques, salons, etc. The old school approach of the POS system is a simple cash register. But simplification and modernization of POS systems have made cash registers redundant. Modern-day POS systems are highly compact and come with a wide range of features.
POS systems revolve around the receipt printer, card drawer, and card reader. The touchscreen-enabled user interface makes POS systems highly intuitive. Even basic POS systems can now work as credit card scanners. Most POS systems now come with a credit card scanner or a card reader that uses a magnetic stripe to chip, read, and execute credit card transactions.
If you’re a small retailer, you can connect a simple POS system to a smart tablet and you’re good to go. In a broad sense, a POS system is a perfect combination of hardware and software that allows retailers to centralize their payment processing, CRM efforts, inventory management, and sales.
All-in-one and robust POS systems support omnichannel sales, employee management, and vendor management. You can use a trial version of a POS system but it’ll have restricted functionality and features. Point-of-sale systems require you to pay an annual or monthly subscription fee and cover additional set-up costs.
Benefits of POS System in 2023
Getting a POS system can transform your retail transactions and offers many benefits. You can look at point-of-sale system solutions as digital and advanced versions of cash registers. Fundamentally, a POS system can accept payments, increase sales, review sales data, manage inventory, etc.
In 2023, A POS system has become a vital tool in the retail space to streamline transactional processes and effectively manage inventory and sales. With a solid POS system, you can do more than accept payments and track sales with precision. As business operations get more complex – there is more demand for engaging POS systems to manage inventory, employees, and customers.
Let’s help you get answers to common questions like “what features do I need in my POS system?”
If you’re looking for a smart, cost-effective, and robust POS system, you can’t go wrong with Bonsai POS. With the Bonsai POS system, you can centralize and streamline all your business operations. Bonsai POS offers modern sales functionality at an affordable rate.
Whether it’s online ordering or mobile-based analytics in real-time, Bonsai POS packs a solid punch. Bonsai POS rolls out automated and free updates without compromising on security and functionality. Merchants continue to find Bonsai POS a practical and viable solution to run seamless business operations. In the Bonsai POS system, you’ll find some of the best features for POS systems in 2023.
What’s more is that Bonsai POS also features onboarding training. Bonsai POS is a straightforward, easy-to-understand, and easy-to-use system. It is simple enough to make the learning curve faster and intuitive enough to render the best user experience. With Bonsai POS, you can manage and track valuable business data safely and synchronize data to the cloud
You can buy or upgrade Bonsai POS at $69/month.
Whether it’s Apple Pay or traditional EMV chip cards, Bonsai supports all types of electronic payments.
Bonsai POS offers modern functionality and gets updated with the latest payment technology. It features loyalty programs for retailers to retain customers via emails and text messages from the point of sale system.
Bonsai POS features real-time analytics that makes it easier to check their daily sales, seated tables, and clocked-in staff from one spot.
Merchants can leverage advanced security encryption and back up valuable data on the cloud. You can use Bonsai POS to centralize data from multiple locations and take your data accessibility to next level.
Like the best POS systems, Revel offers loyalty programs to help establishments get the attention of more customers. On top of loyalty programs, Revel supports third-party hardware integrations and payment processors.
The cloud-based point-of-sale system caters to retailers and restaurants. Among its arsenal of useful functions, the customer loyalty feature stands out. Revel POS allows retailers and restaurants to set up a dedicated and personalized program for customers to earn loyalty points.
On the software side, merchants can use Revel Systems to monitor their customer data and extract valuable information about their purchasing behavior and preferences.
You can get Revel Systems at $99/month.
Clover caters to restaurants and eCommerce stores and offers software and hardware options. When it comes to POS systems, Clover is one of the most famous payment processing options.
But unlike other POS software, Clover offers varied pricing. You can either pay in full or cover monthly charges like other POS systems. Clover allows merchants and restaurant owners to upgrade and expand operations. With this all-in-one POS system, you can accept payments, create orders, and send text receipts to customers easily.
Starting price of Clover is $9.95/month
As the title suggests, CardConnect offers merchant-based services. It is an incredibly secure POS system that works around PCI-compliant features. Instead of having a listed price, you need to reach out to CardConnect to get a quote based on your business needs.
The merchant services of CardConnect revolve around CardPointe, Clover, and Gateway and Plugins that include businesses, small shops, and online retailers. While the starting price of CarConnect is $9.95/month, it charges an additional $8.25 for PCI compliance.
Epos Now is a flexible, intuitive, and customizable POS system. It is a budget-friendly point-of-sale solution that offers the most essential features that businesses need to run flawless operations. One of the highlights of Epos Now is that it requires a faster learning curve. You can get the hang of Epos Now features and get used to its user interface in no time.
While the POS system is based out of the UK, it serves global market customers like Universal Studios and Walt Disney Pictures. Epos Now also offers online support on its community forum. The added convenience, smooth onboarding, and compact features make Epos Now an attractive choice for businesses around the world.
The starting price of Epos Now is $39/month.
GoDaddy has become famous for its instant in-person and online payment processing. It is intuitively simple and easy to use. GoDaddy also allows businesses to track their sales and features a simplified dashboard. On the other hand, GoDaddy doesn’t accept third-party payments.
Overall, GoDaddy is an excellent POS system for retail businesses that have a custom site and want to accept instant customer payments.
The starting price of GoDaddy is $6.99/month.
Upserve is designed for small coffee shops, bakeries, delis, cafés, and other small-scale restaurant establishments. Upserve allows you to customize plans. It means you can add standard functions like gift cards, online ordering, customer reporting, etc.
On the downside, Upserve doesn’t support third-party integrations. Upserve also offers impressive features to manage inventory. For instance, you can get low-inventory alerts, one-click purchasing, and vendor management. Upserve also features dedicated tools for restaurants to optimize their menus and increase annual profits and sales.
The starting price of Upserve is $59/month with one terminal.
Square is one of the few POS systems that provide a payment plan for free. It is an affordable option as far as payment processors go. It is ideal for small brick-and-mortar restaurants and retail stores. But it is also a great POS system for businesses that offer services. Like many POS systems, the downside of Square is that it doesn’t support payment processors from third parties.
While Square POS is free, the Square Retail version costs $60/month for a single location.
From large food chains to small restaurants, the Toast POS system caters to restaurant entities of all sizes. Toast is a compact POS system solution for restaurant owners to review, track, and manage their day-to-day business operations. However, Toast requires a long-term contract that puts off some restaurant owners. Toast makes it easier for busy restaurants to track sales and accept payments.
The POS system also features guest-facing tech. Toast offers multiple online ordering plans and impressive customer support. It is ideal for cafes, chains, bakeries, nightclubs, old school dining bars, and upscale restaurants.
The starting price of the Toast POS system is $79/terminal.
When choosing, focus on the type of POS system you want with the required features. Narrow down to a few options and select the POS system that is within your budget, has the necessary features, and offers added value. When you review a POS system, consider functionality and affordability for your business.
Whether you want to get a new or upgrade your POS system, there are plenty of options available. But a lot of options often overwhelm retailers. In retrospect, opt for the POS system that fits your criteria and then make the right call.