5 Best POS Systems for Business in 2024

Point of Sale (POS) systems can enhance the consumer experience and make things easier for you. It helps you to oversee stock, transactions, and employee productivity, from cashless transactions to online payments.

Additionally, your point-of-sale system provides omnichannel operations, which are smooth conversions between in-store, mobile, and internet sales.

41% of businesses aim to improve or change their point-of-sale system, while 59% prioritize omnichannel interactions with their current POS system.

Now, if you have got an idea of ‘what is a POS system’, let’s come to the primary topic we are going to address in this blog. With so many POS systems available in the market, deciding which one is best for your business can be difficult.

We looked into multiple POS systems and evaluated them. We looked at simplicity of usage, equipment / software alternatives, customer support, functionality, and pricing bundles when evaluating systems. So, let’s get started!

5 of the most powerful POS systems for your organization in 2023

Based on our research, here is our rundown of the five best POS systems for your business.

1. Lightspeed – For complex inventory management

Lightspeed is a popular choice among businesses because of its sophisticated inventory monitoring and user-friendly design.

Lightspeed is a cloud-based point-of-sale system that’s popular among specialty businesses and restaurants. On the other hand, it is the finest POS for managing inventory due to its amazing stock management capabilities.

Features

• Cloud-based software: Lightspeed is an iPad-based cloud-based point-of-sale system. It has POS systems designed specifically for merchants and restaurants.
• Inventory management: Lightspeed Retail’s POS does have some unique inventory management factors that distinguish from others.

You can monitor suppliers and sales on the POS interface, save supplier catalogs, and find new suppliers through the integrated supplier network, making stock management a breeze.

• Restaurants’ stock monitoring: For restaurants, it offers detailed inventories at the ingredient level. Lightspeed bought rival restaurant POS Upserve in 2021, and Upserve has by far the most automatic restaurant stock capabilities on the marketplace.

Hence, we anticipate Lightspeed’s restaurant stocking tools to catch up to its retailing tools shortly.

Benefits

• It sends instant phone notifications for low stock levels.
• The items from the inventory are limitless.
• It also showcases features for inventory tracking.
• It is a holistic, integrated ecom platform.
• Lightspeed offers 24/7 customer support as well as onboarding.
• There is also availability of a 14-day free trial period.

Pricing

Lightspeed’s pricing plans range from 69 USD to 289 USD as per the POS type, transactional processor, and features.

2. Lavu – For cashless transactions

Lavu is an iPad POS system that can be hosted on the cloud. It is particularly beneficial for the Food & Beverage (F&B) industry.

It involves selecting a cash discount that enables you to provide a price reduction for money transfers to balance your card processing costs. This function assists small businesses that are transitioning from a cash-only to a digital-only operation sans incurring extra charges.

Lavu is useful in a digital world where the advantages of contactless transactions are endless.

Features

• Cash discount: This helps you to charge a single price for credit card transactions and a lesser price on cash transactions. As a result, you include the cost of processing within the pricing of your items, then add a discount on cheques paid upfront.
• Multiple subscriptions: Lavu offers many software subscription options with transparent pricing. Small businesses can pick which services are most important to them, paying just for whatever they require.
• API: Lavu offers an interactive application programming interface (API) that enables you to create unique software integrations on your POS. If you would like to integrate your accounting programme, delivery system, or other services, the admin time you’ll conserve will be worth it.
• A/P automation: Sourcery, a payables automation platform, is also owned by Lavu. It enables you to construct a centralized registry of your suppliers and use the app to make, schedule, collect, and bill for orders.

Benefits

• Lavu’s settings for cash discounts reduce the cost of processing.
• iPads are supported for operation.
• It displays clear pricing.

Pricing

Lavu’s monthly prices are – Starter: 59 USD, Growth: 129 USD, and Optimize: 279 USD.

3. Square – For small businesses

For its low pricing and simple functionality, Square is the finest POS platform for small businesses. This self-installing system includes POS solutions for overall purposes, retailing, restaurant, plus appointment-based enterprises.

Every option offers a free subscription featuring limitless transactions and items as well as an interconnected online store.

Features

• Quick payments: Square doesn’t really require you to fill out a long paperwork until you can begin receiving payments. You can begin receiving money the same day you create your Square profile after your bank details have been validated. Administrative fees are consistent and modest, and many firms are eligible for same-day deposits.
• Square Appointments: This software is more than just a calendar. It may be the POS you want for appointment-based enterprises like salons.

You can handle various appointment schedules, set up internet booking, enable customers to reserve and maintain appointments through an online system, send fully automated messages and email alerts, and collect credit cards if there are no-shows or cancellations when they book.

• Free digital store: A complimentary, integrated digital storefront is included with each Square POS subscription. If you still don’t own a site, you can use a Square-affiliated site to house your digital store minus any charges.

This free website can become a huge help to your business’s bottom line in the era of ecommerce, when people expect to be able to purchase a wide range of items and online services.

Benefits

• There are no monthly membership costs with Baseline POS.
• There are no long-term agreements, and you can quit at any moment.
• Retail, skilled professionals and eateries can all benefit from these tools.
• It offers a free ecom site with integration.

Pricing

Its monthly fee is 60 USD for the premium version although there is a free plan. Custom-quoted plans for enterprises are also available.

4. Shopify – For multi-channel businesses

Shopify POS is a great tool for offline retailers having busy online shops since it is developed on the immensely robust Shopify e-commerce platform. You must first register on the Shopify eCom platform in order to use the POS functionalities.

Purchases, stock, and customer information are all saved in one place with all Shopify packages, making Shopify an ideal POS for omnichannel sellers.

Features

• Omnichannel sales: Retailers can offer a seamless buying experience thanks to the seamless interaction between Shopify e-commerce platforms and the POS.

Consumers can book online and have it shipped to them, or they can collect it and return it in person. They could also buy in-store and ask for shipping, or they might explore inside and buy their favorite things online utilizing online carts plus QR codes.

• Digital integrations: Customers can begin a discussion with your brand from any page on the website using Shopify’s web store chat functionality. Apple Business Chat is also integrated with Shopify, allowing iPhone customers to transmit messages directly via their smartphones.

Customers may shop instantly from Instagram and Facebook postings thanks to Facebook integration. “Buy” links can also be easily added to blog articles as well as other internet content.

• Shipping integrations: Shopify interfaces with a variety of shipping solution providers, which is great for businesses that offer delivery. Popular systems as well as specialist tools are all available.
• Customer management: Most Shopify plans come with tools for creating customer profiles that include contact details and shopping habits, adding consumer tags, tracking special requests, generating promotional campaigns, creating content marketing, and optimizing social media strategies.

Benefits

• Shopify offers a free trial for 14 days.
• It has a sleek inventory and multi-channel tools.
• The UI is simple and intuitive to use.
• It is an e-commerce platform that is best in class.

Pricing

Its monthly fee is 0-charges for Lite (included with the Shopify subscription) and Pro: 89 USD per month.

5. Toast – For growing businesses

Toast is a robust cloud-based point-of-sale system designed exclusively for the restaurant business. This enormously comprehensive POS is the top-ranking eatery POS on our list, and it constantly scores at the front.

Features

• Pay-as-you-go alternatives: There are no upfront expenses for new Toast Starter members. Each  Starter subscriber pays service charges with its pay-as-you-go method.  Toast’s pay-as-you-go handling rates are greater because they include hardware and software components up to 2 terminals. For just an extra 0.4 percent in processing costs, you can embed online ordering, membership, email campaigns, plus gift cards.
• Front-of-the-house elements: Toast has tables, meal, and seat administration, as well as check split and bar tab credit or debit card pre-authorization. Table monitoring, order tracking, and even direct texting are all available on this POS display, allowing your staff to summon a manager immediately from the POS.
• Reports: Toast delivers extensive, configurable reports for anything from employee management to food analyses in its reports and office operations. From the backroom, you may track inventories at the component level in real-time, get lower inventory warnings, and make purchase requisitions.

Benefits

• Its starter POS Pay-as-you-go plans are available for free.
• It allows small businesses to purchase two POS terminals with no upfront charges.
• It has a purchase order administration and a robust kitchen inventory.
• Web ordering and shipping technologies that are adaptable are available.

Conclusion

We hope the above list will help you in your decision-making process for the next POS purchase.

If you have any questions, you can give us a shoutout in the comment section below!