Choosing the right point-of-sale (POS) system is crucial for the success of any business. And in our last post, we gave you the details of the two leading contenders in the market — Clover POS and Square. But to help you make an informed decision, we’ve compiled a list of 5 high-ranking and popular POS systems for small businesses in 2023.
Let’s dive in and discover which of the many POS providers is the best fit for your business needs.
Looking for the best POS system for your small business? Reach out to Cornerstone today and talk to an expert.
Why Do You Need a POS System for Your Small Business?
In today’s fast-paced business world, small businesses need reliable and efficient point-of-sale systems to accept payments, streamline their operations, and deliver exceptional customer experiences. And a robust POS system not only enables credit card processing and seamless transactions but also provides you with valuable insights into sales, inventory management, and customer preferences.
Whether you’re looking for mobile POS systems, a cloud-based POS system, or the best retail POS systems, the following features should be accessible:
- Sales Processing: This includes scanning barcodes, accepting various payment methods (cash, credit/debit cards, mobile payments), and generating receipts.
- Inventory Management: Managing inventory, stock quantities, reordering alerts, and product variations. A quality POS system should provide real-time updates on inventory and help businesses streamline restocking processes.
- Reporting and Analytics: Comprehensive reporting and analytics features help provide insights into sales data, popular products, customer behavior, and revenue trends. And this data helps businesses make informed decisions regarding pricing, promotions, and inventory management.
- Customer Relationship Management (CRM): POS software often includes CRM capabilities to help businesses build and maintain customer relationships. They can store customer information, track purchase histories, and enable loyalty programs or targeted marketing campaigns.
- Employee Management: Some POS systems include features for employee management, such as tracking hours worked, managing schedules, and assigning access permissions to different staff members.
- Integration with E-commerce Platforms: Many POS systems offer integration with e-commerce platforms, allowing businesses to synchronize inventory and sales data between multiple locations such as physical stores and online channels.
- Promotions and Discounts: Most POS systems enable businesses to apply customer loyalty programs, promotions, discounts, or coupon codes during the checkout process, helping to attract customers and boost sales.
- Security and Fraud Prevention: POS systems should also have security measures to protect sensitive customer information and prevent fraud. As such, they often include features like encrypted payment processing, user access controls, and compliance with Payment Card Industry Data Security Standards (PCI-DSS).
- Customization and Scalability: POS systems can be customized to suit the specific needs of different businesses, including adding or modifying features as the business grows.
- Integration with Third-Party Applications: POS systems often integrate with other business tools and applications. These integrations streamline data sharing and improve overall business efficiency.
The Top 5 Best POS Systems in 2023
It’s important to note that the features and capabilities of POS systems may vary depending on the specific provider and the needs of the business. As such, it is advisable to evaluate different options and choose a POS provider that aligns with the unique requirements of your business.
Square has revolutionized the way small businesses handle payments and manage their operations. Renowned for its sleek hardware and intuitive software, Square offers an all-in-one solution that includes a POS app, payment processing, and inventory management. With features like seamless integration with other business tools, real-time analytics, and customizable loyalty programs, Square empowers businesses of all sizes to operate efficiently and grow.
Clover POS is a popular choice among small businesses for its versatility and robust features. Its comprehensive suite includes both hardware and software solutions, offering seamless payment processing, inventory management, and employee management. Clover’s app marketplace also provides a wide range of additional features, such as gift card programs, loyalty programs, and online ordering integration. With its user-friendly interface and scalable options, Clover is an excellent fit for small businesses across various industries.
Shopify POS is a powerful and flexible POS system designed specifically for retail businesses. Seamlessly integrated with the Shopify e-commerce platform, it provides a unified system for both online and offline sales. Shopify POS offers a user-friendly interface, robust inventory management, and features such as gift cards, customer profiles, and comprehensive reporting — and its scalability coupled with an extensive app marketplace allows businesses to adapt and expand effortlessly.
Lightspeed Retail is a versatile POS system catering to various industries, including retail, restaurants, and e-commerce. It offers advanced inventory management, purchase order creation, and extensive reporting capabilities. Lightspeed’s intuitive interface ensures a seamless customer checkout experience, while its built-in CRM enables businesses to nurture customer relationships. Additionally, Lightspeed integrates with various third-party applications, providing additional functionalities tailored to specific business needs.
eHopper is an affordable and feature-rich POS system suitable for small businesses seeking a cost-effective solution. With a user-friendly interface and robust features like inventory management, payment processing, and sales analytics, eHopper enables businesses to streamline their operations. Additionally, the system supports various payment methods, loyalty programs, and integration with popular e-commerce platforms. eHopper’s cloud-based design allows for remote access and easy scalability.
Let Cornerstone Help You Choose the Best POS System in 2023
If you’re worried about the POS system cost, or payment processing fees, or even if you have questions about inventory management features, we can direct you to the best point-of-sale system for your small business.
The bottom line is, if you’re going to operate in the modern business world, you need access to modern POS systems. Having the right POS system can truly set you up for success. And we’re here to help!
Can you decide on the best POS system for your small business in 2023? Contact Cornerstone today and talk to an expert.