The Ultimate Guide to Cash Register POS Systems
It's no exaggeration to say that modern POS software can help you enhance your business on every front. From customer retention and loyalty programs to inventory management in real-time and detailed reporting, this SaaS really has it all. So, what are the best cash register POS systems of the year? Here are a few of our top picks.
The Best Cash Register POS Systems of 2019
- Advanced features like split payments and down payments
- Lowest payment processing fees guaranteed
- Accepts all types of payments
- No table mapping feature
- Limited integrations
ShopKeep has been rated the #1 iPad Point of Sale solution, and for good reason. These impressive cash registers come fully loaded with every feature you could imagine. Accept all types of payments, including Apple Pay, EMV, and NFC cards, hook up to all types of hardware for various needs, and get the guaranteed best rates for payment processing around. ShopKeep registers also offer an advanced level of functionality and convenience with features like split payments, deposits or down payments, time clocks, and open checks.
- Ecommerce platform
- Merchant services
- Most efficient system out there
- Additional services can add up
- Limited reporting functionality
Lightspeed is another great choice for a modern POS cash register solution. With a full set of features, including inventory management, fully integrated Ecommerce platform, and merchant services, Lightspeed makes the ideal solution for businesses in any industry, especially retailers and restaurants. Lightspeed also offers strong multi-channel tools, so you can juggle more than one location, analyze multiple sales channels, and stay on top of everything from a single dashboard. Plus, with chic iPad tablets running the show, Lightspeed POS register systems give your business a more professional style automatically.
- Features, including inventory, employee, and customer management
- Flexible menu management
- Powerful reporting and analytics
- Annual plans only
- No live chat support
TouchBistro is known for its flexibility and robust feature set. Catering mostly to restaurants and other food and beverage businesses, TouchBistro has tailored its application to meet the needs and address the typical stress points of your average eatery. Whether you’ve got a period-style bar, a high-end restaurant, or an ethnic food truck, TouchBistro will make your business boom. Enjoy features like tableside ordering, payment processing built-in, and full customer relationship management all directly from your POS cash register.
A bright-eyed business owner in the '80s would open up shop with their handy Omron register proudly shining. Fast forward just a few decades, and society has taken huge strides forward, technology has advanced in unthinkable ways, and businesses have evolved to both meet the new customer demands and utilize the powerful new tools at their disposal.
Yes, today, when a business owner opens their doors, you generally won’t find a traditional electronic cash register from Samsung, Royal Alpha, or even the more recent Sharps. Instead, savvy businesses incorporate the latest technology, using POS or point of sale systems to manage their financial transactions.
And what a difference this has made to businesses all over the world. With features like inventory management, employee time tracking, and loyalty programs, modern POS cash registers are a heck of a lot more functional than a simple cash drawer. If you'd like to pull your business out of the last century and into the modern era, then check out everything there is to know about POS cash registers and what they can do for your profit margins.
Debunking a Myth
Before we dive into the benefits that you, as a business owner, can capitalize on using a state-of-the-art POS system as your cash register of choice, let’s deflate an overly-used claim. The old argument was that traditional cash registers are less expensive, making them the obvious choice for budget-conscious startups and small businesses. But today, there are so many POS services, that competition has driven down prices. So, you can get a durable, efficient system with all the bells and whistles for less.
Benefits of a POS Cash Register
Sleek. Modern. Even sexy. These are some of the terms that a modern-day point of sale cash register elicits when being described. With an attractive outer casing, minimalist design, and touch technology, these are certainly not your childhood coin boxes.
Of course, a POS register is so much more than a convenient place for storing your cash. You can pretty much run every aspect of your business through the point of sale software. Regardless of your industry, product, clientele, or size, a POS cash register can become your on-hand manager. Here are some of the upgrades you’ll get with this more advanced technology:
- Detailed reporting
One of the most valuable tools any business owner has at their disposal is the value of insight. Looking back at previous sales records, highs and lows, and financial influencers can give you priceless information about how to proceed in the future, how to best allocate resources, and what items to restock. POS cash registers come with powerful analytics and reporting tools. You can search, sort, and organize data about any aspect of your business, pulling it apart and analyzing it to glean profitable information. Reporting can even be done in real-time, adding convenience and the highest level of accuracy to your data collection.
- Inventory management
This is likely one of the most valuable features of a modern cash register. How many sales have you lost because you didn't have an item in stock and didn't know when it would be back? POS registers give you real-time updates about every item in your inventory, so you can tell customers when you'll be restocking or what sizes are still in the store. You can even pull up the nearest branch that still has the item in stock if you have multiple branches. It's an ideal solution that maximizes efficiency and sales.
Customer relations management is one of the most complex aspects of running a business. You need to know who your demographic is, what they're buying, how often, who are your VIPs, and so much more. A POS cash register files, calculates, and delivers all of this data to you in easy, understandable, and useable channels, so you can make the most of your relationship with your customers.
- Marketing automation
Too busy for marketing? Email campaigns not yielding results? Marketing automation maximizes any marketing effort, enhancing every minute you spend. What’s more, the software involved in POS marketing allows you to see what’s working and what’s not, so you can change gears when needed.
- Loyalty programs
Reward loyal customers with ease thanks to a documented CRM and built-in loyalty program. Decide to send an exclusive 10% off email or offer a freebie the next time a loyal customer comes into the store. Know who you’re dealing with and reward them accordingly with ease.
- Staff management
Staff management is one of the most important and useful features of a POS cash register. The software will automatically track times, sync sheets with payroll, and calculate time off or vacation days. A good POS software will even help with staff scheduling, provide password-protected permissions for added security, and deliver detailed reports about employee productivity.
Upgrade Your Business With a POS Cash Register
Your cash register is one of the most important points of contact between you and your customers. Don’t be stuck with an outdated system. Give your customers and your business the best experience with a state of the art POS cash register and enjoy all the benefits that come along with it.