How to Choose the Best Retail POS System for Your Business

by Sarah Milon POS Developer

Many small businesses rely on point-of-sale (POS) systems to ring up customer purchases and manage several other vital operational functions. Those in the retail industry can especially benefit from this type of solution. POS systems allow retailers to complete customer transactions, but also track and manage inventory and customer information.

What is a retail POS system?

If you're wondering what a POS system is, it is a combination of both POS hardware and software. It is a common replacement for the traditional cash register, since it offers more comprehensive tools aside from just ringing up orders. For example, it lets you record sales, process payments, track and manage inventory, administer customer loyalty programs, manage employee performance, and access real-time reports. Some POS providers offer everything you need (software and hardware) in one complete package, whereas others allow you to pair their software with the hardware you purchase from third parties.

What are the essential features of a retail POS system?

Sure, you can purchase a POS system with basic features like inventory management and data recording or a more robust solution, but make sure your system has these essential features:

Payment processor compatibility
Product matrix, inventory tracking and purchase ordering
Data recording, reporting and analytics
Customer management and loyalty programs
Employee management (function, data access and time tracking for payroll)

You also want a system that integrates seamlessly with top accounting software and highly-rated email marketing platforms. Having an integrated system that automatically shares data will simplify your business operations and reduce the risk of human error.

After spending countless hours researching and analyzing POS systems, we narrowed down some of the best POS systems for retailers. Here are some of our top choices: