Resources12 Key Features of a POS System
Feb. 25, 2024
Retail Management

12 Key Features of a POS System

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The retail market has changed significantly in recent years and is influenced by the burgeoning e-commerce industry. The backbone of this industry is the ubiquitous point-of-sale (POS) system, which helps customers pay for the goods and services they purchase. With time, its capabilities have evolved to include additional functionalities for managing retail stores such as allowing your staff to manage inventory and store customer data. It also performs a central role in managing the pricing catalog and implementing promotions and loyalty programs.

It's important to remember that customers' purchasing journey is now non-linear. They may view products on websites and later visit physical stores to pick them up. They may even visit retail stores and later order products on social media or another touchpoint. In other words, customers may use multiple touchpoints to complete a single purchase, and may get frustrated if they are unable to start from where they left off. As a result, businesses need to provide a consistent and streamlined purchasing experience on all available touchpoints. This is only possible when you use an omnichannel POS system.

However, there are various types of POS products available today. Choosing the right one can be confusing unless you know what features you're looking for. If you've just started your business or are looking forward to upgrading your POS system, below are 12 key features you should prioritize. Before that, let's take a quick look at the most common types of POS systems.

Types of POS Systems

Desktop POS system

A desktop POS system is a software program that is connected to your cash drawer. It is a complex purchase management tool that allows for a quick and smooth buying experience. It's usually managed locally and is more feature-rich than its mobile counterpart.

Mobile POS system

A mobile POS system is an application that is installed on smartphones. It's connected via wifi or cellular network to a central head office, thanks to which staff can manage purchases on the go. Mobile POS has many benefits, for example, it offers convenience, mobility and immediacy, but may lack certain features of a desktop POS.

Tablet POS system

Tablets have larger screens and they can support features similar to desktop POS systems. A tablet POS system can easily replace a desktop POS as it offers similar functionalities with a better user experience (UX). Thanks to being wireless and portable, a tablet POS system can quickly manage purchases in novel ways. It can also print receipts with the help of an auxiliary device.

Self-service kiosk POS

A self-service kiosk POS system allow customers to make purchases on their own while they are at the store. Customers can quickly scan the barcodes of the products they intend to buy and checkout without waiting in line.

Multichannel POS system

A multichannel POS system allows retailers to manage online and offline purchases on a single interface. However, it treats different touchpoints as separate sales avenues, resulting in siloed data. This often results in a poorer purchase experience in comparison to omnichannel shopping.

Omnichannel POS system

Customers expect a consistent purchase experience regardless of the touchpoint. An omnichannel POS system brings multiple touchpoints under a single interface, allowing for a seamless buying journey. Customers see the same products, pricing, and discounts on all touchpoints. As it updates customer interactions and historical data in real-time, customers also get a consistent customer service and purchasing experience on all merchant-chosen touchpoints and locations.

Both multichannel and omnichannel POS systems are available on desktops, smartphones, and tablets. However, an omnichannel POS system provides a consistent purchase experience across touchpoints to customers while helping retailers avoid data being stored in silos.

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Omnichannel selling

The most important feature of a POS system is its ability to sustain and support an overall omnichannel strategy. Hence, it must support omnichannel purchasing. This allows you to offer a consistent purchase experience across multiple touchpoints regardless of the customer's buying journey.

In other words, an omnichannel POS system ensures you can sell everywhere to every customer. It enables different purchase options, such as buying online and then picking it up in-store, buying in-store and having it shipped to the customer, browsing in-store and then purchasing online, etc.

An omnichannel POS supports a centrally managed pricing and promotion strategy. Hence, customers view the same price and discounts for each product regardless of the touchpoint. Real-time data syncing enables consistent customer support, loyalty, and inventory and order management. It also ensures that staff and customers are in sync with the latest information about a product's purchase and availability status. This results in enhanced customer satisfaction metrics and favorable brand perception.

Inventory management

A centralized inventory management integrated with a POS system helps frontline staff manage orders efficiently and view available stock. This ensures that customers are not sent away or left disappointed because a product they wanted is no longer available. As your staff can track available stock in real-time, they can order the product from another location or direct the customer to the appropriate place.

A centralized inventory management updates stock-related data each time an item is sold, ensuring that your backend team is aware of stock deficits. They can take the necessary actions to replenish your inventory in real time so that you can provide a satisfactory shopping experience to your customers.

Sales reporting and analytics

The POS connects your company directly with your customer's purchasing and payment details. While this places an enormous responsibility on you regarding customer data, it also helps collect important purchasing behavior information with customer consent. When POS is further integrated with other features such as CRM, marketing, etc., you can derive rich, customizable reports that help you make informed decisions.

Sales reports and related insights help understand which items are in demand and which need to be cleared or promoted with discounts. These reports also help you launch campaigns that increase sales and brand loyalty. Most importantly, you can make accurate sales forecasts that result in crucial backend decisions. These decisions may range from deciding which raw materials to purchase to identifying top-performing products at different touchpoints.

Customer Relationship Management (CRM)

A POS collects valuable customer data that is useful in various business operations. It also generates actionable insights that help you provide flawless customer support. In addition, data from CRM enables you to implement targeted loyalty programs, recommend relevant products, and retain existing customers.

Choosing a POS system with CRM features helps you segment your customers into groups and subgroups. This allows you to run effective and customized campaigns to boost sales, engage existing customers, and build relationships with leads and opportunities.

Most importantly, you'll be able to identify your most loyal customers and reward them with exclusive offers. It's worth noting that high-value and loyal customers are hard to find. Once found, retaining them is essential. A CRM-integrated POS makes this easy by helping you manage loyalty programs, providing excellent after-sales support, and running engagement campaigns.

Integrated payment processing

Integrated payment processing allows seamless and automatic communication between the POS and payment processors. A POS system accepts customer's payments during purchase but does not necessarily come integrated with a payment processor. Choosing a POS with integrated payment processing eliminates the need to enter transaction details manually or into another device, making the checkout experience quick and easy. It gathers valuable data that helps you maintain accounts and comply with various business regulations.

All a customer needs to do is use their preferred payment method, and the POS with integrated payment processing ensures seamless experience between cart management and payment. With more people using digital wallets and other novel payment options, it's essential that POS systems support Google Pay, Apple Pay, PayPal, Amazon Pay, and proprietary gift cards in addition to traditional credit cards.

Multi-store support

Traditional POS systems are developed to manage purchases at a single store. However, many businesses these days operate at multiple locations. Prominent brands operate several franchises, retail stores, and buying groups. You'll need a POS that supports multi-store management to streamline purchases at all these locations.

A POS system with multi-store support is centrally managed and offers complete visibility of all operations at all stores. By seamlessly exchanging data between various stores, a multi-store enabled POS helps staff to coordinate between different outlets. For example, when a customer walks into a branch and does not find the item he needs, the staff may locate the item at another outlet and have it delivered to the customer.

Loyalty programs

Studies show that customers who are part of a loyalty program spend more than occasional customers. A POS system integrated with loyalty programs will first identify high-value and loyal customers and then enroll them in loyalty programs of your choice. In other words, you can automatically give rewards and exclusive offers to those entitled to it.

During checkout, you can verify if a customer is already subscribed to your loyalty program to ensure he receives the discounts he is eligible for. If the customer seems promising, you can urge him to register for your loyalty program. This opens up a multitude of opportunities, ranging from cross-selling and upselling to retaining loyal and high-value customers. Most importantly, it makes customers feel valued and acknowledged – emotions that are key to brand loyalty.

Gift card management

A gift card is a prepaid card accepted at specific stores and is usually issued by a retailer. Gift cards are also known as gift vouchers and can be used in place of cash to make purchases at stores where they are accepted.

However, issuing and managing gift cards can be problematic as they require seamless data synchronization when accepting them in multiple locations. In addition, they may not have the same value across all the touchpoints due to hidden fees. A POS with a gift card management feature makes it easy for retailers to issue and accept them during purchases.

This broadens the range of acceptable payment methods and allows more customers to purchase without interruptions. Moreover, issuing branded gift cards is a successful method to retain valuable customers.

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Frequently Asked Questions

Features & Capabilities

What are the key features of a POS system offered by Priority Software?

Priority Software's POS systems offer omnichannel selling, centralized inventory management, sales reporting and analytics, integrated CRM, payment processing, multi-store support, loyalty programs, and gift card management. These features ensure a seamless customer experience and efficient store operations. Source

How does omnichannel selling work in Priority's POS system?

Omnichannel selling in Priority's POS system allows customers to shop across multiple touchpoints—online, in-store, mobile, and social media—with a consistent experience. Pricing, promotions, and inventory are synchronized in real time, enabling options like buy online, pick up in-store, or ship from store. Source

What inventory management capabilities are included in Priority's POS system?

Priority's POS system features centralized inventory management, enabling real-time stock tracking, automatic updates with each sale, and the ability to replenish inventory across multiple locations. Staff can locate products at other outlets and arrange delivery for customers. Source

Does Priority POS support sales reporting and analytics?

Yes, Priority POS provides customizable sales reports and analytics, helping retailers understand purchasing behavior, forecast sales, and make informed decisions about inventory, promotions, and product performance. Source

How does Priority POS integrate with CRM systems?

Priority POS collects customer data and integrates with CRM features, enabling segmentation, targeted campaigns, loyalty program management, and actionable insights for customer support and retention. Source

What payment methods are supported by Priority POS?

Priority POS supports integrated payment processing for credit cards, digital wallets (Google Pay, Apple Pay, PayPal, Amazon Pay), proprietary gift cards, and traditional payment methods, ensuring a seamless checkout experience. Source

Does Priority POS support multi-store management?

Yes, Priority POS offers multi-store support, allowing centralized management and visibility across all retail locations. Staff can coordinate inventory and fulfill customer requests between outlets. Source

How does Priority POS handle loyalty programs?

Priority POS integrates loyalty program management, identifying high-value customers, enrolling them in rewards programs, and automating the delivery of exclusive offers and discounts during checkout. Source

What is gift card management in Priority POS?

Gift card management in Priority POS allows retailers to issue and accept branded gift cards across multiple locations, synchronize data, and broaden payment options for customers. Source

What types of POS systems does Priority Software offer?

Priority Software offers desktop POS, mobile POS, tablet POS, self-service kiosk POS, multichannel POS, and omnichannel POS systems, each designed for specific retail environments and customer needs. Source

How does a self-service kiosk POS system work?

Priority's self-service kiosk POS allows customers to scan product barcodes and checkout independently, reducing wait times and improving the in-store experience. Source

What is the difference between multichannel and omnichannel POS systems?

Multichannel POS systems manage online and offline sales separately, resulting in siloed data. Omnichannel POS systems unify all touchpoints under one interface, providing a consistent customer experience and real-time data synchronization. Source

How does Priority POS help with customer retention?

Priority POS helps retain customers by integrating CRM and loyalty programs, enabling targeted campaigns, personalized offers, and excellent after-sales support. Source

Can Priority POS be used for cross-selling and upselling?

Yes, Priority POS enables cross-selling and upselling by leveraging customer data, loyalty programs, and targeted promotions during checkout. Source

Does Priority POS support real-time data synchronization?

Yes, Priority POS supports real-time data synchronization for inventory, customer interactions, and sales, ensuring consistency across all touchpoints and locations. Source

How does Priority POS improve the customer checkout experience?

Priority POS streamlines checkout by integrating payment processing, supporting multiple payment methods, and automating loyalty rewards, making transactions quick and hassle-free. Source

Is Priority POS suitable for businesses with multiple locations?

Yes, Priority POS is designed for multi-location businesses, providing centralized management, inventory coordination, and consistent customer experiences across all stores. Source

What are the benefits of using a tablet POS system?

Tablet POS systems from Priority offer portability, a larger screen for better UX, wireless operation, and features comparable to desktop POS, including receipt printing via auxiliary devices. Source

Use Cases & Benefits

Who can benefit from Priority POS systems?

Retailers of all sizes, including multi-location chains, franchises, and independent stores, benefit from Priority POS systems due to their scalability, omnichannel capabilities, and centralized management. Source

How does Priority POS help improve customer satisfaction?

Priority POS enhances customer satisfaction by providing consistent experiences, real-time inventory updates, personalized loyalty rewards, and efficient checkout processes. Source

Can Priority POS support businesses in different retail categories?

Yes, Priority POS supports various retail categories, including apparel, electronics, convenience stores, cosmetics, bookstores, and more, with tailored features for each segment. Source

How does Priority POS help with inventory replenishment?

Priority POS automatically updates inventory data with each sale and notifies backend teams of stock deficits, enabling timely replenishment and preventing out-of-stock situations. Source

Competition & Comparison

How does Priority Retail Management compare to ERP competitors like Microsoft, Oracle, Acumatica, and Sage?

Priority Retail Management offers a comprehensive ERP suite enhanced for retail, supporting multi-location, omnichannel, and high-volume environments—all in one platform. Competitors often lack specialized retail management features and require additional integrations. Source

How does Priority Retail Management compare to POS and unified commerce providers like Aptos, LS Retail, Retail Pro, Enactor, and Oracle Retail?

Priority Retail Management delivers an end-to-end solution with ERP, retail management, unified commerce, and POS natively integrated, eliminating costly integrations and ensuring smooth operations across the retail chain. Source

Pain Points & Solutions

What common pain points does Priority POS address for retailers?

Priority POS addresses pain points such as lack of real-time insights, operational inefficiencies, inventory inaccuracies, disconnected customer experiences, and high IT costs by providing centralized management, automation, and omnichannel capabilities. Source

How does Priority POS help reduce operational costs?

Priority POS reduces operational costs by automating workflows, centralizing inventory and customer data, and streamlining order fulfillment, which minimizes manual errors and improves efficiency. Source

Technical Requirements & Integrations

Does Priority POS offer API integration?

Yes, Priority Software provides an Open API for seamless integration with third-party applications, enabling custom workflows and extended functionality. Source

What integrations are available for Priority POS?

Priority POS supports over 150 plug & play connectors, RESTful API, ODBC drivers, and embedded integrations with best-of-breed vendors for hospitality, payments, marketing automation, and more. Source

Is technical documentation available for Priority POS?

Yes, Priority Software provides comprehensive technical documentation for its ERP and POS solutions, covering features, supported industries, and integration options. Source

Product Information & Customer Proof

What is Priority Software and what does it do?

Priority Software is a leading provider of cloud-based business management solutions, including ERP, retail management, hospitality management, and school management platforms. It serves over 75,000 companies in 70 countries. Source

What feedback have customers given about Priority POS?

Customers praise Priority POS for its user-friendly design, intuitive interface, and efficiency. It has a G2 rating of approximately 4.1/5, with users highlighting ease of use and quick support. Source

Can you share specific case studies of customers using Priority POS?

Yes, case studies include Solara Adjustable Patio Covers (accelerated workflows), Dejavoo (growth without increasing headcount), Nautilus Designs (30% growth in order volume), and Cowtown Retail Chain (complete process visibility). Source

Who are some of Priority Software's retail customers?

Priority Software's retail customers include Ace Hardware, ALDO, Kiko Milano, Estee Lauder, Columbia, Guess, Adidas, and Hoka, among others. Source

What makes Priority POS easy to use?

Priority POS is designed with an intuitive interface and user-friendly workflows, allowing staff to manage daily tasks efficiently without heavy reliance on IT teams. Source

What industries does Priority Software serve?

Priority Software serves retail, manufacturing, automotive, healthcare, pharmaceuticals, technology, and services industries, with tailored solutions for each sector. Source

What roles within a retail organization benefit from Priority POS?

Roles benefiting from Priority POS include business owners, operations managers, supply chain managers, sales and marketing managers, CFOs, and IT managers, each leveraging specific features for their needs. Source

What makes Priority POS a preferred choice for retailers?

Priority POS is preferred for its integration simplicity, no-code customizations, advanced analytics, automation, scalability, industry-specific features, and recognition by leading analysts like Gartner and IDC. Source