Top POS Systems

Guide to Choosing the Best POS Systems

Gone are the days when business owners could accept payments from customers in just a few ways. You would see signs like, “we accept check, cash, and all major credit cards!” But never mind that, we live in better days where RFID technology, smartphones, and cloud computing provide the best POS systems to even the smallest businesses. 

Often, the best POS systems play an integral role in the smooth running of a system. With such top POS systems like TouchBistro, you can accept and process various payments securely and quickly. This is why about 68% of businesses worldwide depend on POS systems to provide great customer experience at the checkout counter. 

However, there is a lot more to today’s POS systems than even the most sophisticated cash registers of the “good old days”. The best point of sale systems can handle many more tasks that you throw at them. The right POS system can touch virtually every aspect of your business, such as:

• Accounting

• Invoicing

• Reporting

• Inventory

The POS market is saturated with so many top POS software out there. Hence, it can prove hectic choosing the best POS systems for your particular business. Because, point of sales software and hardware do come specifically for industries and businesses. 

Different Industries - Different Solutions

A good example is the Synio restaurant POS system created specifically for foodservice businesses. Fortunately, this page sums up all the best POS systems for different industries. As such, helping you make the right choice when you decide to buy a new system or upgrade your current POS solution. 

The best part, we’ve divided the entire page into sections for easy assimilation. Hence, all your questions about how to choose the best POS systems for your business should be within the section below.

• What is a POS system, and why should your business use one?

• Choosing the ideal POS system 

• Factors to consider when selecting a POS system

• Picking the Right POS solutions

• Maximizing the Returns on Your POS investment for higher Returns

We encourage you to bookmark this page for easy referencing during your journey in search of a good POS system. In the first step of this journey, we’ll find out about the POS system in general. 

What is a POS system, and why should your business have one?

Simply put, a point of sale is where you make sales. In the previous section, we made reference to a traditional point of sale - the cash register. The stationery days are long over. Point of sale systems are now cloud-based, mobile networks that offer extensive business features. 

Primarily, the purpose of the top POS system today is to render the process of buying and sales easy and quick through on-the-go payment processing. In addition to this, the best POS systems take into account the diverse credit card companies and payment options. Hence, they allow merchants to accept payments from multiple sources while charging a predetermined fee. 

This kind of service is vital to the current world of commerce. Because according to a recent report from the Federal Reserve, we are expecting credit card transactions in the US alone to reach a staggering 40.8 billion, from 37.3 billion in 2016. This figure takes into account other forms of payments apart from plastic credit. 

The introduction of digital wallets like Android Pay and Apple Pay alone is expected to bring in about $503 billion transactions this year (2020). And this isn’t all; there are more interesting facts to consider. 

Some of which include: 

• A recent survey that observed that one-fourth of all participants preferred cashless payment options

• An expected 46% rise in global cashless transactions in 2023

• Apple Pay and store-branded wallets are among the most used mobile wallets by younger consumers

These factors indicate a shift from traditional ways of payment towards the cashless system. As it happens, this is also the best feature of the best POS systems out there. As a result, your business and its customers experience less friction during the selling and buying process, which leads to more sales and higher revenue. 

Still, wondering how your business can justify investing in the best POS system possible? After all, we are talking about real money here. 

Hence, we also provided some additional reasons below:

• The top POS software makes your business more competitive

• They render complex tasks like analysis and tracking of sales very easy

• Your business appears more credible since many customers have come to trust the best POS names like Square and Vend

Now let’s proceed. 

Choosing the ideal POS system

Now that we’ve explained the reasons why you need the best POS systems. You’re set to select one that matches your needs. 

Many ask, “where do I begin?”

We’ve listened to the experts in POS systems, and the recommendation is to begin by asking yourself some critical questions. These questions below will help you outline the requirements of your business. 

• What is the state of affairs in your business?

• What are the main pain points of your business?

• Which specific tasks do you need a POS system to help you simplify?

Let’s take a close look at each point.

What is the state of affairs in your business?

The type of POS system you need depends largely on the state of your business:

• Are you upgrading or switching from an existing POS system? 

• Is the business in the starting phase?

You need to carefully think about the pros and cons of your current system versus what a new system has to offer. 

What are the main pain points of your business?

You can’t run a business without some pain points. Even Tony Stark, with the most advanced tech in the universe, would agree to this fact. However, this doesn’t have to stop any business owner. 

In a report by the National Small Business Association, business owners have the following outlook on matters:

• The new year will bring with it growth opportunities

• 84% of all business owners are very optimistic about the days ahead for their business

In the end, the best businesses are those that make the best use of the solutions at their disposal. 

• Which specific tasks do you need a POS system to help you simplify?

If you are a small business owner, you probably prefer to do it all by yourself. However, the downsides of combining the jobs of the HR director, CEO, marketing manager, and accountant are bound to take a toll on your business. 

This raises a very interesting question, “what’s the difference between an entrepreneur and a freelancer?” For a small business owner, the best POS systems could be the difference you being the quintessential entrepreneur of freelancers

Such systems help you put many mundane and repetitive tasks on autopilot. The most popular among such tasks include:

• Supervising employees

• Competitive analysis

• Accounting

• Inventory management

Together, these make your work-life more balanced by helping make up time for things that matter. 

Factors to consider when selecting a POS system

Now that you’ve given your business requirements some deep thought. Our journey continues with the exploration of the best POS systems for your business needs. 

Before you sign any POS agreement, here are some factors you want to consider carefully:

• Software

• Ease of use

• Integration

• Hardware

• Automation

• Support

• PCI compliant

• Features

• Support

• Cost

• The company

You need to pay attention to these factors because they help you avoid many challenges in the future. Of all these factors, the most important one is the hardware component of the best POS system. 

How Select the Best POS Systems for Your Business

After you’ve considered all the major elements of the Best POS systems in the market, you are about ready to select the one that serves your best interests. 

According to experts from Posvice, it’s better to start from the type of business you have, its size, and the way you operate. 

The Best POS System for Your Type of Business

Ultimately, you’ll make a selection based on the type of business you have. For instance:

• An apparel boutique and a museum have different needs

• A food truck operates quite differently from a brick-and-mortar coffee shop

Hence, if you’re a retailer, you’ll either choose between a traditional set-up or a modern full-service POS system. The same goes for businesses like quick-serve restaurants, dry cleaners, or salons. The bottom line is to increase your service and checkout time for customers, which means happier customers and more sales per hour. 

Know Your Budget

We all know the best POS systems, like any other top quality product, comes at a cost. But this doesn’t mean it should break the bank either or bleed your business to death. Normally, you’ll get tiered pricing models for cloud-based POS solutions like Sygnio and Square. The tiered pricing system allows you to pay based on the number of terminals, products, features, stores, and customers your business operates. 

The Scalability of Your Business

If you are running it right, your business shouldn’t stay flat. It has to grow. Therefore, you need to take into account not only the current needs of the business but also the future needs (one, five, and ten years) of the business. 

Carefully consider how fast you expect to grow and let that guide your decision. For instances:

• Will you need to upgrade your POS system eventually?

• How easily can you add new features to the POS system?

• What’s the cost and procedure required to upgrade?

A visionary and forward-thinking business leader is one who succeeds in the long run. The questions above should guide you in making the best long-term decision. 

Listen to Other Businesses

At this point, you must have narrowed down your options. It’s now time to check what your competitors are using to stay ahead. You can either approach them for references or poke around your local business community to find the current POS technologies everyone is using. 

Remember, you need to ensure they are using the software version you are checking out. 

Check out the Demo or Trial Versions of the Best POS Systems

The best POS systems offer free trials and demos to interested clients. Hence, you can try out the system and confidently make a decision based on your first-hand impressions of both the hardware and software. 

Remember to jot down any issue you encounter when you test the POS features. Also, note the benefits as you explore and put your overall impressions in writing.  Though it’s not mandatory, you can share your notes with the POS vendor or manufacturer. This will help them address any concerns. Also, you cancompare POS systems or read reviews online to get a general idea of what other businesses think. 

We believe these steps will help you select the best POS system for your business. 

Making the Best Use of Your POS system

A tool is only as good as its user. Therefore, your POS system will only deliver the optimum results when put to the best use. For instance,  the top POS systems come with add-ons, extra features and apps to increase productivity and speed. However, your business type will determine how these features benefit you the most. 

Some of the main features you want to explore are:

• Business insight

• Task-specific apps and add-ons

Also, you recommend you stay in touch with your POS provider. After all, they will always know more about their product than you do. Therefore, you will find information about new features, products, and the best ways of making the most use of the system.

Our Best Picks

We desire to help you find the best POS system for your business. And though this page provides enough information to help you do just that, Gygzy has gone the extra mile. We’ve researched multiple POS options out there. After this, we rounded up the top picks for 2020. Mind you; these POS systems are premium. However, you need to ensure they deliver the desired results for your type of business before you invest in any of them. 

Please find our 2020 best picks below:

• Sygnio Retail & Restaurant POS system

• Square 

• TouchBistro

• Toast

• ShopKeep

• Vend

• Clover

• NexoPOS

• Sapaad

• Shopify POS

You can read the reviews, product details, and comparisons of these POS systems on third-party sites to get a better idea of their functionality, costs, and features. 

Ideally, you can do more with the best POS systems than you will with the traditional cash register. Most of these systems provide email integration for easy marketing. Also, their vendors offer customer support in case of any technical or service problems. Finally, you want to narrow this list to the POS systems that have the most flexible options. Some provide month-to-month software subscriptions, third-party POS hardware compatibility, multiple payment processors, and many more. What you don’t want is a POS the locks you into several years’ lease.

Expectations for 2020

Customers are ready to pay premium cash for great customer experience in 2020. Hence, merchants should find and choose the best POS systems that cut long queues, offer modern solutions, and speed up the checkout and payment process. 

Ultimately, you want the kind of POS solution that helps you deliver the best service to your customers. Because time is today extremely valuable, and more customers tend to choose merchants who save them time and deliver on their promises - not only during the transaction but after.

Also, a seamless shopping experience should be the target of those in the retail and eCommerce industries. As such, unified commerce should help you deliver the best online, mobile, and in-person shopping experience. This is the next big thing in POS systems - unified commerce. These platforms provide a cross-channel purchasing and ordering experience that’s all manageable through your POS system. 

POS System in the Near Future

According to Global Payments, the future of POS systems is unattended retail. Unattended POS systems are technology solutions that enable customers to enjoy self-checkout and self-ordering features through a POS system.  As a merchant, you get an effective opportunity to manage the rising cost of qualified labor in the labor market through these unattended POS systems. 

With a single cashier, you can monitor your customers through self-serve POS kiosks installed at different locations instead of having different workers man the different systems. According to the predictions of Global Payments (which also happens to be one of the biggest credit card processors worldwide), the unattended retail industry will be valued at about $13 billion within the next five years. 

Are you excited for 2020 yet? 

Great! We hope you make the right choice and choose the best POS systems for your business.