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How to find the best Point Of Sale (POS) system for your retail business in 10 steps?

It’s proven that a dynamic point-of-sale platform has become essential for running a successful business. Whether it is a retail store or restaurant, it automates POS terminals and billing counters with integrated flexible payment options, streamlined inventory management, and integrated customer loyalty programs.

A recent study states that more than 67% of businesses have adopted a Point-of-sale system (POS). Moreover, these businesses achieved substantial growth in their customers’ shopping experiences and improved their overall performance.

10 Factors should be considered while choosing POS for your retail business

However, with thousands of POS solutions available in the market, choosing the best one can’t be an easy task. When choosing the best Point of Sale (POS) system for your business, several factors should be considered.

  1. Identify your business needs.
  2. Features and functionality.
  3. Easy to use interface.
  4. payment Integrations.
  5. Aggregator Integrations.
  6. Account book integrations.
  7. Consider business Scalability.
  8. Device Compatibility.
  9. Check customer support.
  10. Consider the cost.

1. Identify your business needs:

The first step is to assess the current processes and operations of your retail business and identify areas where a POS system can improve efficiency and effectiveness.

Determine the specific features and functionality your business requires in a Point-Of-Sale system to streamline your business, such as online and offline order management, payment flexibility, inventory management, loyalty management, customer management, employee management, and reporting capabilities.

It depends on the type of business in which you operate. If you have a multi-location store you will need features to manage the store remotely.

If you are doing more online orders you may require a delivery app or integrations with aggregators to manage online orders. Talk with the POS sales team and explain the existing pain points and ask if their POS can provide a solution.

2. Features and Functionalities:

Consider the features and functionalities of the POS you are looking for. If you need the POS system to integrate with other software, such as accounting systems and aggregator applications. Make sure the POS you choose supports the integrations you need.

It is also important to consider future scaling and expansion plans, as the chosen POS system should be able to accommodate changes in the business like adding new stores, managing multiple stores, transferring stocks between stores, etc.

By taking the time to deeply understand the business requirements, a retail business owner can make an informed decision and choose the best POS system that will help them grow fast.

3. Easy-to-use interfaces:

An easy-to-use POS software enables you to quickly ring up sales to get customers in and out of your store faster. Take a demo tour and walk through the key features and functionalities in order to get an idea of what that POS has to offer for your retail business and to see what it looks like.

Then use the trial version and experience the application to make sure it is easy to use and navigate. A POS solution designed with end users in mind can not only reduce the queue at the check-out section but also save time and money for your business.

4. Payment integrations:

It is important for any business to have the capability to accept multiple forms of payment in order to cater to the preferences of different customers.

A Point of Sale (POS) system that only has limited payment options may limit the potential customers and reduce net sales. To attract and retain different customers, it is essential for a retail business to have a POS system that has leading payment integrations, such as credit/debit cards, UPI, and other digital payment methods.

This will allow customers to make purchases with the payment method they prefer, enhancing the shopping experience and building customer loyalty. This will not only help increase sales but also improve customer experience.

5. Aggregator integrations:

Some POS software offers direct integration with order aggregators like Zomato, Swiggy, Uber eats, Deliveroo, Doordash, etc. It helps businesses streamline their ordering and delivery process by allowing customers to place orders directly through the delivery app, reducing the time and effort required to process orders.

Secondly, it increases the reach of the business by providing an additional channel to place orders. Additionally, delivery app integration helps improve order tracking and speedy delivery management, providing real-time insight and reducing the risk of errors.

Moreover, it helps enhance the customer experience, and improve order management for your retail business.

6. Account books integrations:

If you are already using accounting software such as Zoho Books, QuickBooks, or Oracle Cloud in your business it can be integrated directly with some cloud-based Point of Sale (POS) systems that can bring significant benefits to businesses.

Such integration streamlines data entry by eliminating manual data entry, minimizing errors, and saving you valuable time. With this integration, the data from the POS system is automatically transferred to the accounting software and vice versa. It ensures data accuracy and reduces the chance of manual entry errors.

Additionally, this provides a unified view of inventory, sales, and expenditure, enabling you to make perfect decisions based on real-time data. Overall, the integration of accounting software and POS software can greatly enhance your operational efficiency and productivity.

7. Consider scalability:

A scalable Point-of-sale system must be equipped with the features to handle growing transaction volumes. It should be capable of adding new locations as the business expands. Therefore, scalability is a key factor to consider while looking for a Point of Sale (POS) system for your retail business.

The system should be capable of accommodating future expansion and changes in your business and provide the ability to customize the application based on the market needs.

Additionally, the system should be able to integrate with your other systems, like accounting book applications, inventory management, delivery applications, or e-commerce platforms.

Choosing a dynamic and scalable POS system is vital for businesses looking to grow and expand in the long run. Considering these facts it’s wiser to invest in a scalable POS system if you are genuinely planning to expand your business in the future.

8. Consider device compatibility:

A POS system with an integrated loyalty feature offers a comprehensive solution that can help businesses increase customer loyalty, drive repeat purchases, and gather valuable customer data, ultimately leading to increased sales and growth.

Loyalty programs like loyalty cards, virtual loyalty options, and loyalty points can help to increase customer satisfaction and retention by providing rewards and incentives to customers for their repeat business.

The integration of a loyalty program with the Point-of-sale system helps streamline the redemption process, making it easier for customers to redeem their loyalty points. and it helps the business to easily track and manage the loyalty program.

Moreover, the loyalty program data collected through the POS system can provide valuable insights into customer buying behavior, enabling businesses to make calculated decisions and design their offerings to meet the need of their customers.

9. Ensure 24×7 customer support:

Imagine your POS system faced downtime during busy business hours, it can result in a significant loss of customers and sales. This is where the importance of 24×7 customer support comes into play. With support available 24×7, businesses can quickly resolve any issues that may arise with their POS system, ensuring that it continues to run smoothly and efficiently.

Choosing a POS system that offers 24×7 customer support offers numerous benefits, including increased uptime, improved efficiency, resolving issues quickly, provides peace of mind, and increased productivity, which can help support the growth and success of your retail business in the long run.

It can greatly benefit a business by enabling the seamless operation of the system and minimizing downtime. This can greatly enhance the customer experience and improve your productivity and save time.

10. consider the cost vs benefit.

When choosing Point of Sale systems for your business, the price can often be a key determining factor. However, you should remember that the cheapest POS system may not always be the best for your business. You should consider multiple factors beyond just the cost.

Features such as inventory management, multiple reports, and loyalty capabilities are critical to running a successful retail business. Keep in mind that investing in a dynamic, high-quality POS system can provide long-term benefits for your business, saving you time energy, and money.

Additionally, rather than choosing a cheap one, It’s important to choose a Point-of-sale system that meets your specific needs, even if it costs a bit more.

Understand different POS systems.

Traditional POS systems

These have mainly been used for two purposes, first, to manage inventory, two customer management. Traditional POS systems commonly found in retail sectors are not capable of managing new features like data collection, loyalty management, payment integration, etc.

Cloud-based POS systems- 

A cloud-based POS system is hosted on a cloud server. Hence you can access your business from any device with an internet connection. It is very cost-effective as it is available for yearly and monthly subscriptions.

Nowadays businesses are rapidly shifting from traditional POS systems to cloud-based POS systems and it is estimated that more than 65% of purchases are facilitated through cloud-based POS platforms.

This clearly proves that more and more companies are finding value in cloud technology to streamline their business. Furthermore, it works perfectly on android tablets android POS terminals, IPads, and Windows tablets.

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blog Restaurant Restaurant POS Retail Retail POS Small businesses

Point Of Sale Software for Small Business to Thrive in 2023 & Beyond

A point-of-sale (POS) system is essential to improve day-to-day operations. The system helps in core functions of the business like employee scheduling, customer loyalty programs, and inventory tracking. So, your overall business functions are integrated with the system, and simply manage it.

restaurant pos software for coffee shop, food businesses | LithosPOS

In this guide we’ll cover:

  • How does a point of sale software work at a small business
  • Why do you need to consider a point of sale software for small businesses?
  • LithosPOS smart point of sale software
  • Type of small businesses and suitable point of sale software
  • Tips for choosing the best Point of sale software for small businesses
  • Types of point of sale software are commonly used
  • Frequently asked questions about a point of sale software for small businesses

How does a point of sale software work at a small business?

Point of sale software keeps your business efficient. It tracks sales and accepts payments from customers when a purchase is made. Most of the point of sale software is integrated and includes features that help you streamline your business, such as inventory management, report and analytics, payment integration, and a customer loyalty program. 

However, let’s dive deep and learn how point of sale software works in a small business, 

To get a clear picture, we can take a real-life scenario. 

  1. A customer comes to your instore and asks for one product they want
  2. You are offering multiple payment methods and payment partners. The customer chooses one option and makes a payment
  3. Point of sale tracks and records sales and automates printed or email receipts – customer satisfied.
  4. You are using customer data for your customer retention strategy.

As I said earlier point of sale software features help to streamline all your business operations.

1. The customer comes to your instore and asks for one product they want: studies show that when you are running out of stock more than 75% of customers rely on your competitor. So you need to make sure of the product availability.

So how will you do that? well, the software tracks every item in your inventory. When an item runs low on stock, you will be notified. Or you can preset a level and the stock will automatically add to the inventory.

2. You are offering multiple payment methods and payment partners Customers choose one option and make payment:80% of retailers are suggesting contactless payments. It helps them to keep checkout counter clean and safer for employees and customers”. 

However, you can enable a premium customer experience with integrated payments. It will boost your checkout process. Offering various payment methods and payment partners based on your country. The customer feels secure and flexible

3. Point of sale tracks and records sales and automates printed or email receipts – customer satisfied: the software records each transaction. You can check the sales data anytime. By automating the receipt option you can save a lot of time. and it will also help enhance the customer experience. If the customer prefers digital receipts you can send them to their email.

4. You are using customer data for your customer retention strategy: every time a purchase is made by the customer it will record in the CRM. based on their buying history it’s easy to find your loyal customers. 

Use the data for marketing purposes (email marketing, WhatsApp marketing, SMS marketing, google ads, Facebook ads, etc) by targeting your loyal customers. As you know customer retention cost is cheaper than acquiring a new customer. 

The Point sale software for small businesses is integrated and has multiple features. You can see here that everything is connected. So it keeps all the operations efficient. 

Pro tip: Rather than investing in multiple software such as inventory management, CRM, loyalty programs, and online delivery, you can get everything under one umbrella. So you don’t need to pay for each software. For a small business, the point of sale software is worth it.

Why do you need to consider a point of sale software for small businesses

The image will give you a better understanding. So, you don’t need to visit another 5 blogs to understand this.

LithosPOS point of sale software

Best forRestaurants and retailers
PriceVisit pricing
Free trial14 days free trial
eCommerce POS integrationYes
Payment processingYes
Customer loyalty programYes
Accounting integration Yes
Marketing integrationYes
Inventory managementYes
Aggragators integrationYes
Multi-location managementYes
Report and analyticsYes

LithosPOS is one of the leading point of sale software with thousands of restaurant and retail customers from 64+ countries. The industry-leading software has 12+ integrated payment partners with multiple payment methods, online ordering and eCommerce integration, inventory management, accounting integration, and many more.

Intending to help and encourage small business owners, LithosPOS is the most affordable point of sale software for small businesses when compared to other software.

small businesses using pos software | LithosPOS
point of sale software with integrated payment | LithosPOS
LithosPOS Uniqueness
Use the software like any other software on your mobile and pc
Helping small businesses and startups for getting success. Most affordable
Multiple integrated payments based on your country’s
eCommerce integration
Aggregator integration
Inventory management
Report and analytics(real-time, daily, weakly, monthly, and yearly)
Customer loyalty program
Work offline as well as online
Employee management
Manage multi-location business
Works on any devices
Access to reports from anywhere (cloud-based)
24/7 customer support, and more

Simple to use

LithosPOS focuses on user experience. With simple navigation and a better interface, anyone can simply understand the software. The data visualization and analysis are much simpler, you can view and analyze data in one interface. For example, you can see your eCommerce and in-store sales and compare them in one interface.

Most affordable

When compared to other point of sale software LithosPOS is the most affordable with so many benefits. LithosPOS aims to provide affordable software to small businesses and startups and help them grow.

Integrated Payment

Payment integration is one of the main features of LithosPOS.

Customers are now opting for smart devices or cards to make payments. by 2024, contactless payments are projected to triple from $2T to $6T. You can offer a premium customer experience with integrated payment. You can choose your payment partners based on your country.

It helps restaurant retail businesses to provide a premium customer experience to their customers. It helps to facilitate payment transactions and speed up the checkout process.

eCommerce integration

According to NRF retail sales are projected to reach $5.13-$5.23 trillion, with online sales growing 10-12% in 2023. The online business has high potential in the coming years. and online business becomes a necessary platform that helps you to increase sales and reach customers as well.

You can manage your online business and offline business with LithosPOS. Making reports and automating inventory, managing sales, and customers will be easier. Integrate your e-commerce platforms such as WooCommece, Shopify, and more.

Lithospos is a way for businesses to expand their business. Lithospos helps you accept online and offline orders, manage inventory efficiently, and know the performance of your platform.

You can also reduce the increasing labor cost as the business can expand with limited employees.

Aggregator integration

If you are a restaurant owner you can expand your online business with various aggregators. For example, you can choose Uber Eats as your aggregator, sell items, and analyze your business.

Inventory management

LithosPOS keeps your inventory profitable. By preventing out-of-stock and maintaining inventory levels you can save a lot of money. The software will notify you when an item running low on stock. It also helps to generate reports and simplify accounting such as tax reports, sales reports, purchase returns, sales returns, and more.

By automating inventory, your inventory will also change based on the orders received from your online and offline platforms. You can automate all the manual tasks, including headaches.

Report and analytics

Access to the business data in real-time and manage it from anywhere in the world. Analyze your business performance such as most selling items, worst selling items, most and worst sales days, online sales, offline sales, employee efficiency, customer report, and more

Customer loyalty program

LithosPOS point of sale software for small businesses tracks every customer. So you can simply find your loyal customers based on their buying behavior. However, you can use the customer contact details for marketing purposes. For example, send offers through emails, or SMS, and you can also add on a custom customer loyalty app.

Work offline as well as online

The software is cloud-based, but you don’t need to worry about it. If the internet is down you can make sales offline mode. After the internet is restored the data will automatically sync.

Employee management

Finding your top-selling and worst-selling employees and analyzing their performance will be easier. By tracking employees you can identify the cash lack at the end of the shift.

Manage multi-location business

Manage your multi-location business with LithosPOS. Transfer the goods across your businesses, simply analyze and generate inventory, sales, customer, tax, and many other reports.

Works on any device

If you are a small business owner with a limited budget, LithosPOS fits you. The software works with any device. You can simply run it on your existing Android, ios, and Windows devices. So you don’t have to buy any special hardware.

Pro tip:

Most of the POS software providers will tell you to invest in expensive hardwares. However investing in POS software like LithosPOS allows you to use any hardware that you have or you can afford. It is a huge advantage for small and medium businesses.

Access to business from anywhere

To manage your business you don’t need to be in your store location. Using LithosPOS cloud-based point of sale keeps your business efficient wherever you go. Access to the business report – analyze and manage, all you need is an internet connection and LithosPOS.

24/7 customer support

LithosPOS is always there to help you. You can contact customer support anytime you want.

Pro tip:

Small businesses need scalable software. In the future, your business will expand. In such a scenario, cloud-based software that can grow with the business is essential. Constantly changing software providers at every stage of your business growth can be difficult and time-consuming. It is also challenging for employees to learn the software if you consistently change. 

However, Invest your money in the right software, not only for today but also for tomorrow.

What type of small business are you? | You need this

Single store business

If you are running a single-store business. Because of the limited budget and manpower, the business needs to invest in cloud POS software. You can reduce manpower by automating business operations. Automate inventory, generate reports, and more.

Pro tip:

You can also invest in a self-service KIOSK to reduce the need for labor. So the customer can checkout themselves. 

LithosPOS-kiosk-software
LithosPOS-kiosk-software

Multilocation chain

To make multi-location businesses profitable you need a proper system. To keep both businesses efficient you need to invest in point of sale software. When you started using the software the inventory process got easy.

For example, if your one store runs out of stock, you can transfer goods from one store to another. The point is it allows you to manage everything in one software. 

Combined brick-and-mortar and Online business

If you are a business owner with both online and brick-and-mortar stores, it can be more challenging to manage. 

For example, 

  1. You sold a product through your eCommerce store
  2. You are manually reducing items in the inventory 
  3. And manually calculating the online and offline sales
  4. You are struggling to calculate your sales, profit, loss, and more in your business(online and offline)

Instead of that, you can invest in point of sale software for small businesses

For example,

  1. You made a sale through your e-commerce platform
  2. It automatically reduces that sold item from the inventory
  3. The software automatically generates reports end of the year, month, week, or in real-time
  4. You can simply analyze all your sales data without any manual calculations.

Managing both online and offline is crucial without technology. By integrating all your business operations together, you can manage your entire business from one place with one software.

Tips for choosing the best Point of sale software for small businesses(How to buy)

  • Your budget: consider your budget before buying software. It will be more expensive when purchasing the hardware. If you choose software that is compatible with any device, it allows you to use the software on your existing or low-cost devices as well.
  • User-friendly: The software should be very user-friendly. It should be easy to use even by a non-technical person. This will help prevent wasting a lot of time on software training. Every newly joining employee can use the software with ease, with no need for special training.
  • Your size: Consider where your business is now and at the same time consider your goal. Forecast your business growth and invest in point of sale software that can scale with you.
  • Your industry: Consider your business industry. If you are a retailer you need retail point of sale software it includes features such as payment integration, eCommerce integration, accounting software integration, CRM, and more

If you are a restaurant owner, you can invest in a restaurant point of sale software that includes payment integration, online ordering, aggregator online ordering, integration, accounting software integration, CRM, and more.

Types of point of sale software are commonly used

Here is the list of commonly used point of sale software for small businesses.

POS TypeDescriptionSuitable Businesses
Online POSOperates over the internet and allows businesses to process transactions from different locations. Offers flexibility and accessibility.E-commerce stores, multi-location retail businesses, service-based businesses with mobile operations
Offline POSBrick-and-mortar retail stores, restaurants, and small businesses with limited internet connectivityOnline stores, pop-up shops, small businesses, and businesses with limited hardware resources
Cloud-based POSPOS system hosted on remote servers, accessible via the internet. Offers scalability, automatic updates, and data backup.Retail stores, restaurants, cafes, small and medium-sized businesses, businesses with multiple locations
Web POSRuns on a web browser, allowing businesses to process transactions through any device with internet access.Retail stores, restaurants, supermarkets, and businesses with dedicated checkout counters
Mobile POSPOS system that operates on mobile devices such as smartphones. Provides mobility and flexibility for accepting payments on the go.Food trucks, mobile vendors, event organizers, delivery services
Tablet POSPOS system designed specifically for tablets, offering a larger screen size and enhanced functionality compared to mobile POS.Restaurants, cafes, bars, quick-service businesses, retail stores
Desktop POSPOS system installed on desktop computers, typically used in fixed locations such as retail stores or restaurants.Boutique stores, high-end retail stores, cafes, and businesses with a focus on aesthetics and customer experience
iPad POSBuilt for Apple’s iPad devices, providing a user-friendly and intuitive interface for processing transactions.Retail businesses, cafes, small and medium-sized businesses, and businesses utilizing Android devices
Android POSSpecifically designed for Android devices, offering compatibility with a wide range of smartphones and tablets running on the Android operating system.Retail businesses, cafes, small and medium-sized businesses, businesses utilizing Android devices
On-premise POSInstalled locally on the business’s own servers or computers, allowing complete control over the system and data.Large retail chains, businesses with specific security and compliance requirements
Multichannel POSIt supports multiple sales channels, such as physical stores, online stores, and marketplaces, enabling seamless integration and management.Retail businesses with an online presence, businesses selling through various channels, businesses aiming for centralized control
Omnichannel POSPOS system that provides a unified and consistent experience across all sales channels, allowing customers to have a seamless shopping experience.Retail businesses with a strong online and offline presence, businesses prioritizing personalized customer experiences

Frequently asked questions about point of sale software for small businesses

Which point of sale software is the most affordable?

LithosPOS is the leading point of sale software for your small business. The price is low when compared to other software. It has a wide variety of payment integrations, inventory management, eCommerce integrations, aggregator integration, online ordering, report and analytics, customer loyalty programs, and more.

Can I use the phone as a point of sale (POS)?

Yes, you can. You can manage your business using your mobile devices as your POS. All you need is an app and a card reader. The software is compatible with Android, iOS, Windows, and more. 

Is the point of sale software expensive?

Investing in cloud-based software is less expensive. You can reduce the high amount of hardware costs by using Android, ios, and Windows devices.

How long does it take to install a Point of sale software?

You can set up the software within 5 minutes. For example, you can quickly add thousands of items using CSV spreadsheets to inventory management. So, it is really fast and you don’t have to invest your time too much time in point of sale software.

Which is the most popular POS system for restaurants?

LithosPOS is the most popular POS system for restaurants, retailers, and small businesses. We are currently present in over 70 countries and our software is being used by over 6,000 independent businesses and 100+ chain stores. We support 5 languages including English, Spanish, French, Chinese, and Arabic. We have registered our company in the US as Lithospos, Inc. and we already have hardware and payment partners in several countries, including the US.

For a restaurant what type of business functions can be integrated with LithosPOS?

You can integrate your various business functions with LithosPOS. You can simplify your inventory, CRM, employees, payments, and online business. It also helps you to integrate with the front office and back office functions like KOT, kitchen display, customer display, Kiosks, and more. Not your business tasks, you can also simply manage your multi-location business through a centralized dashboard.

How do I set up a POS for my small business?

  • Get instructions from the POS provider
  • Set up hardware (computer, printer, scanner) and connect it with POS software
  • Upload products using Excel(bulk upload)
  • Give user permission
  • Configure taxes/payment options
  • Integrate with other software
  • Give training to staff
  • Test thoroughly, then launch and monitor
  • Identify the ways you can grow your small business and use it

Does LithosPOS integrate with QuickBooks?

Yes, LithosPOS integrates with QuickBooks. It allows you to simplify your accounting operations. And you can also integrate many other software as well.

Best POS with credit card processing option

LithosPOS can seamlessly integrate credit card processing into your point-of-sale system, providing you with a secure and efficient payment solution