How to compare POS systems?
Before deciding to purchase a POS system, comparing them based on different attributes is essential. To begin with, ask the following questions or make these comparisons:
- What type of POS system do you need, and what is the nature of your business?
You'll learn more about the different types of POS systems below. However, make sure that you understand your business requirements keenly.
- Where and how do your customers interact with you?
You will need an omnichannel POS system to generate online and offline sales across different touchpoints.
- How good is the loyalty management module?
Customers love it when you offer loyalty programs. It not only makes them feel special but also brings tangible value to their lives in the form of discounts, special offers, and exclusive previews. Hence, compare the features of loyalty management on your shortlisted POS systems.
- Does your shortlisted POS system handle complex promotion campaigns?
Make sure that your sales and marketing teams speak to the vendor or evaluate the features before you make a decision.
- Does it support multiple ecommerce sites?
It isn't uncommon for business owners to have multiple retail sites for different brands. Hence, ensure your POS system seamlessly manages inventory across multiple sites for different brands.
- What value does it bring to the customer?
The customer is still the king, and nothing is more important than enhancing customer experience. The most vital feature you must consider is how consistent your customers' purchase experience will be and what value a POS system brings to customers. Quick checkouts, secure management of customer data, and omnichannel support are some of the essential features that help enhance customer experience.
Other essential attributes you need to consider are the POS's price, the sort of tech support you can expect from the vendor, if the POS is scalable, etc. Hence, to make accurate comparisons of various POS systems, it is essential to understand one's business goals, how the business operates, and the kind of training and support mechanisms provided by the vendor.
Types of POS systems
There are multiple POS systems available with different features that cater to various needs and requirements. Some perform essential functions such as processing payments on mobile devices, while others also help run loyalty programs, offer discounts, and manage backend operations in addition to processing payments.
In recent years, the types of POS systems have mushroomed and range from mobile POS systems to self-service kiosks that your staff and customers can use at retail locations. Other POS systems cater to online businesses and e-commerce units with particular needs. While some are offered as a cloud service, others possess both online and offline processing capabilities. These POS systems are essential for retailers who provide an omnichannel shopping experience.
Let's take a look at the different types of POS systems available.
7 Common types of POS systems
What is a desktop POS system?
A desktop POS system is a software program attached to your cash drawer. The software program is configured on the desktop or connected to the central head system. Regardless of how it is deployed, operators can perform various payment-related functions. Usually, vendors customize desktop POS systems according to the users' needs.
Key features
- Process payments
- Calculate taxes per transaction
- Store customer information and data
- Retrieve historical data as per requirements
- Report generation and insights
Pros
- Versatile and can be used in several situations
- Easily customizable and applicable in a variety of retail situations
- Option to buy a bundle or different modules separately
Cons
- They require IT support
- Staff may require intensive training
- They are not 'plug and play'
What is it used for?
Desktop POS systems are used in various retail situations, especially brick-and-mortar stores. It is an excellent solution for quickly processing payments in small and large retail units with dedicated staff to make entries and perform checkout operations.
What Is a Handheld POS System?
Handheld POS systems are portable devices that allow your staff to process payments on the go. They are perfect for situations where payments must be processed away from the cash register. Some use cases include on-field sales and large retail stores where customers may want to avoid walking up to the cash counter. It can reduce long lines and queues and offer table payments where necessary. Many retailers also use handheld POS systems at pop-up shops and fairs.
Key features
A portable solution to process payments
It can be customized to suit various business use cases
Perfect for sales staff who work in the field
Helps record transactions digitally
Pros
Seamlessly completes orders and sales
Offers customers the convenience of paying where they are
Eliminates the need to walk to the cash register
Cons
Requires internet or cellular connectivity for payments to go through
Printing receipts depends on the availability of stationery.
What is it used for?
Handheld POS systems are widely used in the retail industry. They are often seen at events and large retail stores. They help eliminate the need to walk up to a cash register to process payments. They offer the convenience of processing payments anytime, anywhere.
What Is a Smartphone POS System?
A smartphone POS system is a dedicated POS app installed on cell phones. These POS applications convert cell phones into modern, advanced POS systems that anybody can use anywhere. As most smartphones are equipped with cameras, they can also read QR codes, help customers make purchases quickly, and allow for the uploading of product catalogs.
Key features
- Mobile-enabled payment processing
- Access to customer data
- Ability to implement loyalty programs
- Retrieve historical information to provide better customer service
- Implement an omnichannel shopping experience
Pros
- Mobile POS systems are affordable and easy to use
- Smart BYOD policies will ensure the safety and security of customer data
- Eliminates the need to invest in new hardware
- Available on subscription and per-transaction-fee models
What is it used for?
Smartphone POS systems are used across industry verticals to process payments seamlessly without investing in specialized hardware. They allow staff to process payments and fulfill orders right from the comfort of their smartphones. It also helps companies implement an omnichannel shopping strategy.
What Is a Tablet POS System?
Tablets are mobile devices with larger screens. This gives retailers an advantage over cell phones as checkouts, collection of customer feedback, tip requests, etc., become easier. Tablet POS systems can be customized and configured more than cellphone POS systems. You can also use it as a desktop POS system by placing it next to the cash register.
Key features
Performs just like a smartphone POS system with added benefits
Can scan barcodes and double up as desktop POS systems
Helps collect customer feedback, request for tips, etc.
Easily customizable and applicable in a variety of retail situations
Pros
Tablets have a larger screen and allow for more functionalities
It is more straightforward to implement sales and marketing campaigns right from the POS
Perfect for both in-store and on-the-field retail situations.
Available for both iOS and Android tablets
Cons
Tablets require additional investment as employees may not readily have tablets.
It tends to be more expensive than when hardware is accounted for.
Some employees may find it hard to type on tablets.
What is it used for?
Tablet POS systems are used to fulfill orders and ensure smooth checkouts. They offer the mobility and convenience of cell phones with extra functionalities. They're perfect for weaving in loyalty management, cross-selling and upselling, and collecting customer feedback at the end of the checkout.
Watch how to enhance your in-store experience with Priority Retail's smart tablet POS
