A point-of-sale system is a crucial part for all businesses. There are many factors to consider when deciding what point-of-sale system to purchase such as key features, hardware, software, your budget, and many others. Keep on reading to learn the important of a good point-of-sale system for your business!

Why do small businesses need POS systems?

Small businesses can benefit greatly from implementing a point of sale (POS) system. Here are some reasons why:

• Inventory Management: A POS system can help small businesses accurately track and manage their inventory, ensuring they always know what products they have in stock and when they need to reorder.
• Sales Tracking: A POS system can keep track of all sales, so small business owners have an understanding of which products are selling well and which ones might need to be reevaluated.
• Accuracy: Human error is inevitable, but a POS system reduces the chance of mistakes being made when recording sales, which can prevent profit loss and increase accuracy.
• Efficiency: With a POS system, small businesses can process transactions much more quickly and efficiently, in turn, increasing customer satisfaction.
• Integration: A POS system can integrate with other software, such as accounting or CRM software, to create a seamless business operation.
• Mobility and Flexibility: With the rise of mobile and cloud-based point of sale (POS) systems, small businesses can take transactions anywhere, at any time, making it easier to make sales and manage the business.

In summary, a POS system can save small businesses time, improve accuracy, enhance the overall customer experience, and help with managing daily operations.

What features should I look for in a full service restaurant POS system?

When looking for a POS system for your small business, there are several features you should consider:

1. Inventory Management: Helps you track your products and alert you when you are running low on stock.
2. Sales Tracking and Reporting: Track sales and create comprehensive reports that show your top-selling products, customer spending patterns, and more.
3. Payment Processing: Should be able to accept various payment methods, such as credit cards, debit cards, mobile payments, and cash.
4. User-Friendliness: A user-friendly interface is important, so your employees can easily learn and operate the system. Also, look for easy-to-use features such as a touchscreen interface, barcode scanning, and a quick search function.
5. Customization Options: Should offer customizable features such as discounts, and promotions to help you enhance the customer experience and increase sales.
6. Security: Your POS system should be secure to protect your business and customer data from theft and fraud.
7. Integration with Third-party Applications: Should integrate with other software that you use for your business such as accounting, e-commerce, and marketing tools.

These features can help your small business improve efficiency, save time, and make informed decisions for your operations and finances.

Use Case Scenario

Sandy owns a small boutique that sells women’s clothing and accessories. She wanted to make the checkout process more efficient and provide her with deeper insights into her sales and inventory.

With her new POS system, Sandy can input all of her inventory items, including product descriptions, prices, and images. When customers purchase items, her staff can easily scan the barcodes or input the item names. This helps to prevent errors in pricing and lets customers know exactly what they are buying.

The POS system also offers detailed reports on her sales, inventory levels, and most popular items. Sandy can track these reports and allow her to make better decisions about what to stock and when to reorder. Additionally, the POS system helps Sandy to save time by automatically tracking inventory levels instead of doing so manually.

Sandy’s POS system also has a loyalty program feature that stores customer data and rewards their repeat business. The system offers discounts on repeat purchases, which, in turn, helps to increase customer lifetime value.

Finally, Sandy also benefits from her POS system’s integration with her accounting software. By integrating with her accounting system, Sandy can track sales data, automate payments, and quickly generate financial reports without the need for manual data entry.

In this way Sandy’s POS system helps to improve her efficiency, reduce errors, manage inventory more efficiently, improve the customer experience, and streamline accounting and business operations.

Top 5 small business POS systems

1. Clover POS: Clover is a popular, all-in-one POS system that offers a range of features, including inventory management, sales tracking, and employee management. It provides a range of hardware, including card readers, scanners, and cash drawers.
2. Toast POS: Toast is a popular cloud-based POS system used by many full-service restaurants. It’s known for its robust management tools, such as inventory management, staff management, and menu customization. Toast also provides order management, table management, and reporting features.
3. Revel POS: Revel is a cloud-based POS system designed for pizzerias and other restaurants. Its features include menu management, order management, inventory management, customer relationship management, and reporting and analytics. Revel POS also offers online ordering and delivery integrations.
4. Exatouch POS: Exatouch is a reliable and affordable point-of-sale system designed to simplify your life and improve your operations, customer experience, and profitability. It is suitable for a variety of businesses, whether you own a restaurant, retail store, or service business. The system is fast, dependable, and reasonably priced, making it accessible to businesses of all sizes
5. Brink POS: The Brink POS system by PAR Technology is a cost-effective restaurant point of sale system packed with features that can streamline restaurant operations. It offers comprehensive capabilities, including online ordering support, table reservations, and gift card management, which can help busy restaurants operate more efficiently and successfully.

These are just a few of the top small business POS systems available today. When choosing a POS system, it is important to assess your business needs and select a solution that offers the features that are most important to you. With BestPOS, we can help consult and guide you for the best point-of-sale system suited for your business!