benefits of cloud pos

Best POS System - The Ultimate List

Kit Jenkin
29 Jan 2024

Technology keeps on changing. Every year, new products are created that push the boundaries of competition even further. All companies that want to keep their customers must compete to offer better products and services for lower prices.

This is especially true in the world of point of sale systems. In the POS system industry, new products come out every year that are even more efficient and cost-effective than the previous ones.

So how do you choose the best POS system for your business? And what are the best POS systems currently available? Don't fret we've got you covered here at Epos Now.

In this blog post, we attempt to make sense of it all by giving you an up-to-date list of the best POS systems in 2022. We've taken into consideration both customer reviews and industry experts to create the ultimate list of POS systems that you, as a savvy consumer, want to know about. By the end of this guide, you'll know the following:

  • Best pos system for small business owners

  • The best point of sale system for retail and hospitality businesses.

  • The difference between POS software and hardware

  • How to create a strategy for selecting the best POS system for your business.

But before we get to the best POS systems themselves, we need to cover a few basics.

Point of sale (POS) system - what are they?

A point of sale (POS) system is a computerized system used by businesses to track sales and with inventory management. A POS typically consists of a touch screen, barcode scanner, cash drawer, receipt printer, and magnetic card reader. It can also include features such as a customer database, kitchen video monitor, and table management software.

Modern POS systems differ from traditional tills in that they are much more efficient and offer many more features. For example, a modern POS can track customer data and generate reports that provide valuable insights into sales trends. By relying on digital technology to automate several tasks, a merchant is able to get more done in less time.

Modern POS systems are the cornerstone of trading. Without one, it'll be tough to measure up to your competition.

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Retail POS systems vs. hospitality POS systems

Retail POS systems are designed to meet the needs of retail businesses. Retail POS systems include features such as inventory management, customer databases, and reporting tools.

Hospitality POS systems (or restaurant pos systems) are ideal for restaurants, hotels, bars, and other service-based businesses. These systems usually have fewer features than retail POS systems but can still track sales and loyalty programs. They also include kitchen video monitors and table management software which allow businesses to quickly process orders in busy environments.

Some companies specialize in both retail POS and hospitality POS systems, providing a range of features that can support both types of businesses. Others offer more specialized solutions that focus on a single type of business and some just provide a simple POS solution for small businesses. With this in mind, choosing the best POS system for your business depends a lot on the type of business you run. But we'll get more into the specifics of selecting the best POS system for your business soon.

Cloud based system vs. mobile POS systems

When deciding between a cloud-based system and mobile POS, you should consider the type of business you run and the features you need.

Cloud-based systems are great for businesses that have multiple locations or need to manage inventory across multiple stores. They can also be used by businesses with mobile sales, such as food trucks and pop-up shops since they don't require any hardware installation. Cloud-based systems can also be accessed from anywhere, making it easier to monitor business operations remotely.

Mobile POS systems are great if you only have one location and want a more portable solution. Many mobile POS solutions offer integrated payment processing and other features like loyalty programs and customer data management. Mobile POS is also cheaper than cloud-based systems since there's no need to purchase additional hardware. Using a mobile device also means you can take on-the-go payments and process them wherever you are.

Do you need a POS system?

Yes, you do need a POS system to run your business. As technology evolves, it has become an essential tool for all businesses that are looking to increase efficiency and reduce costs. Without one, you will not be able to compete with your competition in the market.

Why is a POS system important?

Businesses of all sizes can benefit from using a POS system. Here are three reasons why:

  1. Increased efficiency: A POS system automates many tasks, which allows employees to be more productive. This leads to increased efficiency and faster service for customers.

  2. Improved accuracy: With a POS system in place, businesses can reduce the likelihood of human error when it comes to tracking sales and with inventory management. This leads to improved accuracy and fewer mistakes.

  3. Enhanced customer service: A good POS system will allow businesses to track customer data such as purchase history and preferences. This information can be used to provide personalized service and increase customer satisfaction.

Now that you know why POS systems are important for your business, we'll take you through the factors you need to consider when purchasing your very own POS system.

Types of businesses that need a POS system

The type of business you run will influence which POS system is best for your needs. Here is a list of businesses that should consider purchasing a POS system:

  • Beauty salons: Beauty salons need flexible payment processing options. A POS system can help them keep track of customer appointments and accept payments.

  • Food trucks: Food trucks need a mobile POS system to run their business. A mobile POS system gives them the flexibility they need to accept payments on the go while also providing features such as online ordering and customer relationship management (CRM).

  • Restaurants: Restaurants need fast, reliable service to process payments. A restaurant POS system can help do just that while also providing advanced features such as kitchen video monitors, online ordering, and table management systems.

  • Hotels: With a POS system, hotels can keep track of customer check-ins and out, manage staff schedules, bookings, and reservations. They also provide advanced features such as loyalty programs that help hotels increase their revenue.

  • Bookshops: Bookshops need a system that can take payments quickly and easily. A POS system can provide the necessary tools to accomplish this while also providing advanced features such as customer loyalty programs and targeted promotions.

  • Grocery stores: Grocery stores need a comprehensive inventory management system to keep track of their products. A point of sale (POS) system with an integrated barcode scanner, receipt printer, and cash drawer is all they need to efficiently manage their inventory and accept payments.

  • Clothing stores: Clothing stores could benefit from a POS system that includes features such as customer loyalty programs and targeted promotions. This will make it easier for them to increase sales and provide customers with personalized service.

  • Vape shops: If you own a vape shop, you'll need a POS system with features such as barcode scanners, magnetic card readers, and cash drawers. This will ensure that you can accept payments quickly and accurately.

  • Online store: A POS system for an online store can help automate order processing, provide secure payments, and manage customer data. Features such as inventory management and shipping management are also available to make running your business more efficient.

  • Bakery: A POS system can help bakeries manage inventory, create sales reports, and process payments. They also offer features such as recipe management and ingredient tracking for better inventory control.

  • Flower shop: A POS system can help flower shops manage inventory and accept payments. They also offer features such as delivery tracking, loyalty programs, and customer data management to help increase sales.

  • Golf course: A POS system can help golf courses manage memberships, tee times, and payments. They also offer features such as loyalty programs and customer data management to improve customer service.

No matter which business you are in, a modern POS system can make all the difference when it comes to improving efficiency, accuracy, and customer service. Consider your needs carefully before making a purchase so that you can get the most out of your investment.

TIP: Check out our retail POS system and hospitality POS system to learn more about the features they offer. With our solution, you can accept payments quickly and efficiently while providing customers with an enhanced experience. Plus, you get everything from a single portal, all managed by one payment provider at one fixed rate.

One system at the core of your business

One system at the core of your business

  • Multi-site and omnichannel employee management and inventory management tools, all in one place
  • Detailed sales analytics that reveal top performing products and employees
  • Integrate with a fully loaded ecommerce platform that syncs with the best retail pos systems
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Factors to consider when choosing the best POS system

Like any other item, there are many factors you have to consider when choosing a POS. This technology needs to tick all your boxes, so it's good to figure out what you need it for and how you'll be using it.

What kind of business do you own?

The kind of POS system you choose will depend on the kind of business you have. For example, a restaurant will need different features than a retail store.

Take some time to write down all the things you'll want your POS system to do. These things could include things like:

  • Create sales reports

  • Inventory management features

  • Staff management

  • Integrations with applications you use

  • Hardware options

  • Multi-site and omnichannel store management

  • Accept all types of payments.

POS system cost

Perhaps the most important factor of all is the POS system cost as this will determine what system many merchants will buy.

While it may be tempting to go with the cheapest possible option, you will need to take all sorts of factors into consideration, including the quality of the hardware and POS software, customer service, payment security, and more. Just because one item costs less doesn't mean it's the best option!

Finally, when looking for the best POS system in 2022, make sure you're paying attention to the latest trends and advancements. New technologies such as extended reality (XR) will be making their way into businesses all around the world, and finding a POS system that can accommodate this would definitely be beneficial

By considering these factors and doing your due diligence, you'll be sure to find the best POS system for your business in 2022.

POS hardware

You may assume that all POS systems are the same. This couldn't be further from the truth!

Many POS systems companies offer a range of hardware options, from traditional over-the-counter tills to tablet systems and card machines. Some companies offer entire POS systems that fit in the palm of your hand so you don't have to deal with clunky tills!

The type of hardware you choose will also be determined by the kind of business you have. For example, if you own a restaurant and you're looking to buy handheld card machines, you'll want hardware that's drop-resistant and waterproof. This will be especially useful for businesses that have outdoor locations.

POS software

Just as important as the hardware is the software. Without great software, a POS system isn't worth a hill of beans.

Most POS systems come with their own proprietary POS software that works only on their till systems. Others integrate with popular operating systems like Android and iOS to make their systems more versatile.

Most POS systems will also integrate with popular business applications. If you're running a convenience store, for instance, you'll need to integrate with great inventory management and accounting software to make sure your business runs smoothly.

Integrations

When choosing a POS system, you'll need to make sure that it can integrate with the apps and services you use.

For example, if you have an email marketing platform like Mailchimp, your POS system should be able to sync up with them so that all customer data is seamlessly shared between the two systems. This will save you time and money as it eliminates the need to manually transfer customer data.

You may also want to look for POS systems that integrate with loyalty programs, so customers can easily earn points or rewards when they make purchases. This will help build a loyal customer base and increase repeat business.

You'll also want to make sure your POS system integrates with accounting software like QuickBooks or Xero. This will ensure that all of your sales transactions are automatically synced and recorded, making it easier for you to keep track of the financial health of your business.

Finally, if you own a restaurant, you'll want to make sure your POS system can integrate with online ordering systems. With more and more customers opting to order food online, you'll want a solution that will make it easy for them to do so.

Payment processing

When it comes to payment processing, the cost of your POS system will be determined by how you process payments. If you're opting for a traditional payment processor, you'll typically pay payment processing fees.

However, if you opt for an all-in-one payment processing solution, you may find that you're able to save money in the long run. All-in-one payment solutions are typically sold as a packaged deal and include payment processing plus additional features like fraud protection.

Integrated payments are not only more secure, but they also make payment processing easier. For example, if you're running an online store, integrated payment solutions give customers the ability to check out quickly and securely without having to leave your website. Or, if you own a hospitality venue, integrated payment solutions can make it easy to process payments and tips without having to open a separate payment terminal.

No matter what payment processor you choose, make sure it's one that is secure and reliable so your customers can have peace of mind when making purchases and you can process payments seamlessly. Being PCI-compliant is also a must, as it ensures that your payment processor meets the industry's most rigorous standards for payment processing.

TIP: Interested in our payment processing services? Find out more about how we can help your business to accept payments quickly, safely, and securely.

Do you need a cloud based system?

Before diving into whether or not you need one, let's first understand what a cloud based POS system is. A cloud based system is one that uses the internet to process payment information and store customer data rather than storing it on local servers or physical equipment.

Cloud-based systems are becoming increasingly popular as they typically require fewer upfront costs and offer more scalability. This makes them ideal for businesses with multiple locations and those who are looking to expand. Additionally, cloud-based systems can be more secure as customer data is stored in the cloud and protected by industry-leading security measures.

Here are some considerations to help you decide:

  • Is your business growing? A cloud-based solution may be the best option for businesses that are expanding, as it makes it easier to scale up or down as needed.

  • Are you able to hire an IT team? If you have the resources and technical know-how available, then a cloud-based solution may be the best choice.

  • How secure do you need your payment processing to be? Cloud-based systems are generally more secure than local solutions, making them a great choice if payment security is a priority.

  • Do you plan on integrating other applications, such as loyalty programs and accounting software? Cloud-based systems typically offer more flexibility and make it easier to integrate other applications.

  • Are you looking for a cost-effective solution? Cloud-based payment solutions tend to have lower setup costs, monthly fees, payment processing fees, and transaction fees than local solutions.

Ultimately, the choice between a local and cloud-based POS system will come down to your individual business needs. Consider all of your options before making a decision, and make sure you're getting the best value for your money. With the right POS system in place, you can significantly improve operational efficiency and streamline payment processing so you can get back to focusing on growing your business.

Inventory management features

Inventory management is an important part of running a successful business, and the right POS system can make it easier to track inventory levels and ensure that you never run out of stock. Many modern POS systems offer inventory management features such as item tracking, order tracking, reordering notifications, automated ordering processes, and more. These features not only help you stay on top of your inventory levels, but they can also help you save time and money.

Let's see this in action. Suppose you own a small boutique, and you need to track the inventory of multiple items across multiple locations. With a cloud-based POS system, you can easily check stock levels in each location from your computer and order more when needed. You can also set up automated notifications to remind you when it's time to reorder certain items. Not only does this save time, but it helps you avoid overstocking, which can result in costly losses.

Similarly, if you own a small cafe, you can use a POS system to track the ingredients needed for certain dishes and ensure that you always have enough on hand. This eliminates the need for manual tracking and helps you stay organized, saving time and money in the process.

Employee management

Finally, many modern POS systems offer staff management features to help you manage your employees more effectively. Features like scheduling and time tracking can help you ensure that staff are working the appropriate hours, while employee permissions ensure that only authorized personnel has access to sensitive information. You can also set up alerts for sales goals, which will remind employees when they need to get back on track.

These staff management features are especially useful for businesses with various departments or locations, as they help you ensure that everyone is working towards the same goals.

So when considering the best pos systems for your business, don't forget to look for those that offer the right combination of features. Depending on your specific needs, a local or cloud-based system may be more suitable—but by taking advantage of all the features offered by a modern POS system, you'll be sure to get the most out of it.

Best POS Systems for small business owners

#1 Epos Now

Starting off strong, Epos Now has become one of the leading cloud-based POS systems in the market. It offers a host of features, from loyalty programs and automated online ordering to staff management and stock tracking. Plus, it's incredibly easy to set up—you can have your system up and running within minutes. And with its reliable security measures, you can rest assured that your data is safe and secure.

The company was launched in 2011 by founder and CEO Jacyn Heavens and is currently available in the United Kingdom, Ireland, the United States, Canada, Australia, New Zealand, Spain, and Mexico. Before starting Epos Now, Jacyn worked in a bar and struggled to find affordable, easy-to-use POS systems, which inspired him to develop a simpler and more cost-effective solution.

Let's look at some of the features in more detail:

Integrated payment processing:

Epos Now offers integrated payment processing, allowing you to accept multiple payment methods from one terminal. This eliminates manual data entry and reduces the risk of human error, resulting in faster transactions and better customer service.

Customers can get everything they need from one single portal, all managed by one payment provider. Plus, you're able to offer customers their preferred payment option and accept payments at a fixed rate (no hidden payment processing fees).

Inventory tracking:

Epos Now's cloud-based POS system makes it easy to keep track of your inventory levels in real-time, so you can rest assured that you always have the right supplies on hand. You'll also enjoy features such as item tracking, order tracking, reordering notifications, automated ordering processes, and more. These features not only help you stay on top of your inventory levels, but they can also help you save time and money.

Employee management:

Managing staff has never been easier with Epos Now's staff management features. With scheduling and time tracking, you can make sure that staff are working the appropriate hours. You can also set up alerts for sales goals, which will remind employees when they need to get back on track. Additionally, employee permissions ensure that only authorized personnel have access to sensitive information.

App store:

Epos Now also has an App Store with a wide range of partners and features, allowing you to create and enhance your experience even further. With apps for loyalty programs, marketing, analytics, and more– the possibilities are endless!

Some of the popular apps available include:

  • Epos Now Loyalty: create your own loyalty programs and reward customers for their repeat business

  • Epos Now Delivery: quickly and easily manage your delivery orders in one place

  • Order & Pay: let customers order and pay from their own device or via online ordering

  • Quickbooks: integrate your sales and financial data with Quickbooks

  • Mailchimp: automate your email marketing campaigns with Mailchimp

In summary, Epos Now is a great option for small business owners looking for an easy-to-use and secure POS system. With its integrated payment processing, inventory tracking, and staff management features as well as apps from the App Store – it offers everything you need to get up and run quickly. Plus, their customer service team is always available to help out in case you encounter any issues.

#2 Square POS system

Next up is Square POS, another cloud-based POS system with a wide range of features.

From mobile payment processing and simple hardware setup to employee management, customer management, and detailed reports, Square offers all the POS features you need to streamline your business operations. Plus, it integrates with all major accounting systems, so you can get up and running quickly.

#3 Lightspeed POS system

Lightspeed POS is a cloud-based software and hardware system designed for retail and hospitality businesses. The platform offers all the features you need to manage your inventory, staff, and customers—including advanced customer relationship management (CRM) capabilities.

Lightspeed POS offers automated marketing tools that make it easy to keep in touch with customers, while detailed reporting and analytics functions provide you with insights into your business performance.

#4 Toast POS

Toast POS—a restaurant-focused system that stands out for its features and affordability.

Toast is aimed at restaurant businesses and has everything you need to manage orders, payment processing, loyalty programs, staff management, and inventory tracking. The system is integrated with Toast Payments, so you can accept multiple payment methods without worrying about rate markups or extra monthly fees.

Plus, the hardware included in Toast's subscription plans—such as kitchen display systems (KDS) and touchscreen terminals—are designed to withstand the high-traffic environment of a restaurant.

#5 Touch Bistro

TouchBistro is a restaurant POS system specifically designed for restaurant owners and operators. It offers powerful POS features, like table management, kitchen display screens (KDS), and tableside and online ordering, that help you streamline operations and provide the best customer service possible.

The software also includes advanced reporting capabilities to give you insights into your business performance. You can also keep track of inventory levels and employee hours with the help of this POS system.

#6 iZettle

Zettle Go—a simple and fairly basic POS software—offers business owners exactly what they need to get going. From enabling transactions to managing stock, this fuss-free software is intuitive and easy to use while also being free!

While Zettle doesn't have quite as many features as the other POS systems mentioned, it does offer some great benefits. For example, users get access to regular reporting and analytic functions, sales forecasting, and even staff hour tracking. Additionally, with its reliable security measures, you can rest assured that your data is safe and secure.

#7 Clover POS system

Clover POS—a powerful and user-friendly point-of-sale system for small and mid-sized businesses. It comes with a wide range of POS software and hardware options to suit your specific needs.

The system includes features such as inventory management, customer loyalty programs, and detailed reporting. Plus, it's integrated with a variety of popular third-party services—from payment gateways to apps via the clover app market —so you can get up and running quickly.

Clover isn't, however, the most affordable solution. It also lacks the transparency that some of its competitors offer, and it's sold by a variety of third-party resellers, which makes pricing and features difficult to compare.

#8 Sale dock POS

Saledock—a UK-based, family-run POS software and hardware system designed specifically for the British market. Since its inception in 2020, Saledock has quickly become increasingly popular amongst EPOS systems in the country.

As an all in one cloud-based solution, Saledock offers retailers a range of features to make their life easier. With an intuitive and responsive design, Saledock reduces mistakes at checkout and provides users with options such as multi-store management, reorder alerts, product sync across stores, and more.

10 tips for creating a kick-ass strategy for your point-of-sale system

#1 Do your research

Before making a final decision, make sure to research all your options so that you can find one that fits your business needs and budget. This includes reading customer reviews, comparing features, and understanding the terms and conditions of any third-party resellers.

For example, suppose you're opening a restaurant, and you're looking for a POS system. You should compare the features of different systems, such as kitchen display screens (KDS), table management, loyalty programs, and staff hour tracking.

Or, if you are looking to scale your barber shop, you'll need to look for a system that has features such as multi-store management, reorder alerts, product sync across stores, and more.

#2 Focus on scalability

When you're choosing a POS system, it's important to choose one that can scale with your business growth. If your business is growing quickly, then you may want to invest in a system with additional features like stock management or customer loyalty programs so that you can manage increased sales and operations effectively.

Some reasons for scalability include the following:

• Being able to add new features as your business grows

• Having the ability to upgrade POS hardware or POS software when needed

• Ensuring compatibility with all types of payment methods

#3 Think about the user interface

The user interface should be easy enough for staff members to learn quickly and use without frustration. The best POS systems are designed with intuitive interfaces that allow employees to quickly input orders, process payments, and manage customers without difficulty.

Choose a system that is simple enough for everyone in your organization to understand so you can avoid any confusion or slowdowns during checkout times. Think about how user-friendly it is and whether it will meet the needs of both employees and customers alike.

#4 Take security into account

Security is one of the most important factors to consider when selecting a POS system. Look for systems that offer secure payment processing, as well as encryption and tokenization options, to help protect customer data from potential cyber threats. Make sure you are aware of any additional security measures being taken by your chosen provider, such as two-factor authentication or PCI compliance certification.

#5 Consider integration capabilities

An integrated system makes it easier for retailers to manage all aspects of their business—from sales and inventory tracking to marketing campaigns and customer loyalty programs. Consider if you need an out-of-the-box solution that fits with other software or hardware applications you're already using in your store. You should also look at the integration capabilities of your chosen POS system to ensure you can easily sync and transfer data between different systems.

#6 Look for 24/7 customer support

You should always choose a point-of-sale provider that offers 24/7 customer support so that if there's ever an issue, you know it will be resolved quickly. Look for companies that have live chat support, as well as phone and email contact options. It is also important to make sure their customer support team is knowledgeable and experienced in helping customers with any issues they may come across.

Some tips for finding a reliable customer support team include:

• Reading online reviews: Look at customer reviews and ratings to get an idea of how responsive the team is.

• Finding contact information: Make sure their contact information—including phone numbers, email addresses, and website URLs—are easily accessible

• Asking questions: Have a list of questions prepared before you make your final decision, so that you can determine the level of support they offer

• Investigating how long it takes to respond to inquiries: This will give you an idea of how quickly they can help if anything ever goes wrong

• Looking up customer satisfaction ratings: Check customer satisfaction ratings to determine how helpful their customer service representatives are.

#7 Stay cost conscious

POS systems vary widely in terms of cost, so it's important to consider how much you are willing to pay before making a decision. Many providers offer free trials so you can test out the system before committing to a plan, and it's important to review the terms of your agreement carefully.

#8 Look for reporting features

A good system should offer robust pos features for reporting. This will help you better understand your customers, sales trends, and inventory levels. Look for a system that offers real-time data analytics and reporting, as well as the ability to export reports in different formats. This will make it easier to track valuable metrics like customer engagement, top-selling items, and more.

Some reports your POS system should offer include the following:

• Customer-related reports such as purchase histories, loyalty program details, and customer demographics.

• Inventory-related reports like inventory levels, product delivery schedules, and supplier analysis.

• Sales-related reports, including sales summaries, employee performance evaluations, and transaction tracking.

#9 Look at what POS hardware is available

Hardware is an essential component of any POS system, so it's important to choose hardware that meets your business needs.

Some common hardware components for retail businesses include:

• Barcode scanners

• Receipt printers

• Cash drawers

• Credit card readers

• Electronic signature pads

Some common hardware components for hospitality businesses include:

• Kitchen display systems

• Table management systems

• Touchscreen displays

• Wireless ordering terminals

• Payment devices

When choosing the best POS hardware for your business, consider the size and layout of your store or restaurant, as well as how many customers you serve on a daily basis.

Finally, when considering hardware options, it's important to look at whether or not the company offers a warranty. A warranty ensures that your hardware will be replaced or repaired if it malfunctions or stops working.

#10 Look for integrated payment processing

It's important to make sure that the POS system you choose includes integrated payment processing so that you can accept different forms of payments from customers. Look for a provider that offers multiple payment gateway options, including third-party payment processors like PayPal and Stripe.

Additionally, make sure it has support for EMV (chip) cards and contactless payments such as Apple Pay and Google Pay. This will help ensure your business is prepared to handle all types of payments securely and efficiently.

Finally, when evaluating a POS system's payment processing capabilities, look at payment processing fees and interchange rates. These payment processing fees will vary depending on the type of card used, but it's important to be aware of them before signing up with a particular POS system.

Final thoughts

Choosing the best POS system for your business can be a challenging decision. With so many features and options to consider, it's important to take the time to evaluate your needs and make an informed decision.

In particular, pay attention to how much each option will cost, as well as its payment processing capabilities, reporting features, and hardware offerings. Finally, when looking for the best point of sale system, don't forget to consider what customer service the provider offers.

By keeping these points in mind, you can ensure that you choose the best point of sale system that meets all of your business's needs. Good luck!

Why choose Epos Now?

Curious about more reviews? Check out these comparison pieces we prepared for you below. You'll get all of the information you need to start your business the right way.

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