Small businesses are notorious for tight budgets and limited resources when it comes to technology investments. When it comes to choosing a point of sale (POS) system, it can be challenging to find one that offers all the features they need at an affordable price. POS systems are critical tools for businesses and are responsible for managing transactions, inventory, and customer data. In this article, we review the top POS systems for small businesses to help you make an informed decision.
1. Square POS
Square is an excellent choice for small businesses as it provides a straightforward and accessible platform to manage transactions. The POS system accepts all payment types, including contactless payments, and integrates with numerous third-party applications such as Quickbooks and Xero. It also provides a free card reader, invoicing feature, and inventory management.
One significant advantage of Square is its affordable pricing. Small businesses can get started with Square’s free POS app and only pay transaction fees that start at 2.6% + 10c per transaction. For businesses with higher volume sales, there is an available subscription plan with additional features.
2. Shopify POS
Shopify is a well-known e-commerce platform, but their POS is also a formidable contender in the space. Shopify POS integrates seamlessly with their online store, making tracking inventory, sales, and customer data easier. Shopify POS accepts all payment types, generates custom sales receipts, and allows businesses to create bespoke loyalty programs.
Shopify offers plans starting at $29 per month, which includes their POS app, online store, and website hosting. For businesses with multiple locations, Shopify POS provides a unified dashboard to monitor sales from all locations in one place.
3. Lightspeed POS
Lightspeed is a full-service POS provider with features tailored to small businesses. The system allows businesses to manage inventory, create customized sales reports and integrates with leading payment processors like Stripe. Lightspeed also offers in-depth analytics capabilities, allowing businesses to identify top-selling products and overall sales trends.
Pricing for Lightspeed starts at $69 per month, which includes POS software, online store, and website hosting. For the added benefit of a fully integrated accounting platform, teams can upgrade and subscribe to the Lightspeed Accounting plan.
4. Toast POS
Toast POS, designed with small businesses in mind, provides a customizable platform to manage sales, orders, and inventory. It also includes a range of features specific to the hospitality industry, such as tableside ordering, digital menu boards, and real-time kitchen updates. Toast POS also includes integrated CRM modules that help businesses manage customer data more effectively.
Costs for Toast POS are available by contacting their sales team, but prices start at around $115 per month per terminal. Toast POS also provides insights and analytics on staff and menu performance.
Conclusion
Choosing the right POS system for your small business is critical to healthy operations and profitability. The four systems mentioned in this article are all deserving contenders, but ultimately the right one depends on your specific needs. Square POS is an excellent choice for businesses looking for a straightforward and accessible platform. Shopify POS is ideal for businesses that also have an online store. Lightspeed POS provides robust inventory management and analytics, making it a great tool for data-focused teams. And lastly, Toast POS includes features tailored towards the hospitality industry, and is an excellent choice for restaurants and cafes. Regardless of the choice of POS system, investing in the right platform will provide long-term benefits for small businesses.
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