Best POS Management Software in 2024
A POS or ‘point of sale’ is a device used during customer checkouts to process payments and complete a sale. In addition to streamlining transactions, it allows in-store and online businesses to keep track of their inventory. POS systems have evolved over the years to optimize management for other business operations, such as staff and payroll management, customer data collection, and sales analytics. The payment processing function has also advanced from simple cash registers to accommodate UPI payments, on-tap credit or debit cards, online payments for e-commerce platforms, etc.
MPOS: A New Chapter in Point-of-Sale Systems
mPOS is a mobile point-of-sale terminal that is typically a tablet, smartphone, or wireless device used to carry out all POS system functions. These handheld devices allow modern businesses to process purchases at the customer’s convenience. They have lesser setup costs than traditional POS systems. A hardware card reader is plugged into the tablet or smartphone of the mPOS to enable payment processing from different sources. Its flexibility is particularly beneficial for service-based businesses, such as restaurants, at-home cleaning services, repair services, last-mile delivery, etc.
What is POS Management Software?
As businesses scale, they naturally need more than one POS terminal to keep up with the increasing number of customers. A chain of stores or restaurants might also require multiple POS systems at different locations. With the advent of mPOS, management software is necessary to manage and secure POS devices that move from one location to another. Manually managing such devices without an interlink between them in such situations becomes a hassle. A POS management software remedies this. It enables owners to monitor and manage all their POS terminals from a single platform. It streamlines their functions and provides an interface to track activity.
We are listing 5 top-rated POS management solutions to seek in 2024.
5 Best POS Management Solutions in 2024
1. Scalefusion
Scalefusion is a Unified Endpoint Management (UEM) solution that empowers enterprises worldwide to manage and secure a variety of endpoints effortlessly. Scalefusion’s robust suite of features is apt for POS management in all types of businesses. It is widely trusted by organizations in retail, healthcare, hospitality, restaurant, and last-mile delivery industries for diverse POS management needs.
What differentiates Scalefusion from other market players is its ability to turn any Android, Apple, or Windows device into a functional POS system. This is primarily enabled by its best-in-class kiosk mode features. Scalefusion’s vast mobile device management capabilities enhance the management of POS/mPOS devices for businesses.
Key Features:
- Single and multi-app kiosk mode
- Content management
- Create device groups
- App install and uninstall
- Remotely update OS versions and apps
- Remote cast and control
- Captures screenshots and screen recordings
- Create app configurations
- Secure policy deployment
Reasons to buy:
- Schedule app installation at a set date and time
- Enable secure POS management by implementing app and website blocklists and whitelists
- Accurate location tracking and geo-fencing abilities prevent unauthorized access, theft, or misuse
- Best suited for mPOS management
Pros:
- Seamlessly supports POS devices running on Android, iOS, macOS, and Windows
- Scalefusion’s comprehensive knowledge base makes adapting to the software a breeze
- Multiple remote troubleshooting features minimize device downtime, ensuring uninterrupted business operations
- Offers a 14-day free trial with all UEM features included
Cons:
- Does not sell hardware components of POS terminals
- Customers receive Scalefusion’s POS management features as part of their UEM software package
2. Lightspeed
Lightspeed provides a diverse commerce platform with scalability as its focus. With over 15 years of industry experience, it is helping businesses thrive in 168 locations worldwide. Lightspeed offers specifically tailored POS solutions for retail, restaurant, and golfing business customers. It helps owners and managers gain visibility of their business by keeping track of all operations related to sales, inventory, payments, marketing, and workflows. The company offers POS hardware equipment along with its management software.
Key Features:
- Create customer profiles
- Track purchase histories
- Built-in reports
- Payment processing
- Open API to build customized workflows
- Inventory management solutions
Reasons to buy:
- Offers separate and specifically designed POS management plans for retail and restaurant businesses
- Ensures a secure and seamless checkout process for customers
- Integrates with leading accounting software, ERP systems, marketing tools, etc
- Lightspeed provides one-on-one onboarding for clients and assigns a dedicated account manager to resolve queries
Pros:
- Allows good multilocation POS management
- The cloud-based nature of the software enables users to stay connected with customers at all times and from anywhere
- Enables users to understand merchandising and inventory needs at a more granular level
- Offers a 14-day free trial
Cons:
- Provides 24/7 customer support; however, wait times are very long
- Scope of analytical reports generated in basic plans is extremely limited
3. Square POS
Square offers a complete suite of POS hardware and software products. From payments on the go and payroll scheduling to customer info and inventory management, it strives to provide the best technology-backed solutions for all operational issues. Businesses across restaurant, retail, and beauty industries trust Square POS to boost service efficiency and customer satisfaction.
Key Features:
- Inventory tracking and management
- Processing of contactless processing
- Order manager for third-party orders
- Staff and payroll management
- Custom access permissions for staff
- Activity log and sales report
Reasons to buy:
- Expand marketing efforts by providing custom email marketing, text marketing, and loyalty program features
- End-to-end encrypted payments
Pros:
- Enables users to create custom subscription plans for customers
- Supports diverse payment options, including Afterpay, which gives a buy now, pay later structure
- Facilitates fast and reliable transactions
- 14-day free trial is available
Cons:
- Inability to create a customer portal
- Issues with viewing customer reviews
- UI can be improved
- Steep processing fees
4. RetailEdge
RetailEdge POS solutions are provided by its parent company, High Meadow Business Solutions. It provides a powerful and cost-effective POS solution that is easy to maintain and run. Its POS software is tailor-made to solve all retail business needs. RetailEdge leverages intricate sales and operational information to help business owners make data-driven decisions and retail plans.
Key Features:
- Remote access and control
- Activity Manager to track customer contact histories
- Inventory management
- Web integration
- Built-in loyalty program
- Remote credit card processing
Reasons to buy:
- Simplifies inventory management and checkout processes for businesses that have the same instore and online offerings
- Best for small and midsize businesses
- Reasonable upfront and monthly costs of software and hardware
Pros:
- The in-built help tab answers almost all questions and shows videos for easier understanding
- Generates targeted, accurate customer lists and mailing labels based on customer sales
- Does not require significant training for staff to start using the solution
Cons:
- Occasionally, the system UI freezes
- Drastic changes in UI after software updates make it difficult to get the hang of the system again
- Support plans have to be purchased at an additional cost
5. Toast POS
ToastPOS is a cutting-edge point-of-sale (POS) system optimizing the way restaurants manage their operations. ToastPOS makes processing orders, payments, and reports faster for all kinds of restaurants with its easy-to-use interface and targeted features. From tableside ordering to kitchen displays, ToastPOS enables restaurant owners to boost efficiency and customer satisfaction.
Key features:
- Cloud-based access
- Order ready notifications
- Tableside payments processing
- Location overview
- Payroll and team management
- Sales summary
- Menu management
Reasons to buy:
- Extensive training material with interactive webinars and go-live support helps understand the product faster
- Customers can save on expensive third-party commissions for online orders and delivery with the Toast TakeOut app
- Easily allows users to add items and their associated prices, descriptions, and photos, which helps maximize the information provided for customers ordering online
Pros:
- Faster service times
- Cloud-based menu allows for real-time menu updates
- Good value for money
Cons:
- Wait times for chat support are long, which is ill-suited for a fast-paced business environment like restaurants
- Payroll functionality can be improved
- Scope of features is limited to the restaurant industry
- No free trial
How Can a POS System Armed with Good Management Software Help Your Business?
A POS system’s foremost benefit for a business is providing a better customer experience. No one likes waiting, and thanks to POS and mPOS terminals, it has become a thing of the past with faster checkout times. Devices equipped with intuitive POS software enable staff to easily punch in the purchase details and generate an invoice in seconds. It allows customers to pay using diverse payment methods without having to wait for change. Staff assistance has also become inessential, with self-service POS terminals or kiosks gaining wind.
If placed in the right places, such as in front of stores or restaurants, these devices can influence the buying impulses of people who are just walking by. Placing them at store exits can prompt purchases from individuals who were about to leave empty-handed. Apart from this, POS systems can optimize inventory management and minimize losses due to overstocking or shortage.
POS software seamlessly enables all these functions. An integrated management solution is crucial for several POS devices to perform these tasks coordinately. With UEM software like Scalefusion, businesses can also transform any device into a POS system. It allows business owners and administrators to track device data and easily manage all the POS systems from a single console. Additionally, POS software provides insightful sales data and analytics that can improve businesses’ supply decisions. It also enables remote app and content management on all POS devices. With POS device management, administrators can save time by pushing necessary updates to all systems with just a few clicks.
The Bottom Line
POS systems are gaining popularity across industries due to their business optimization abilities. There are several ideal options available in the market. When selecting the suitable POS system for your business, durability in hardware and platform compatibility in software is paramount. The choice also depends on your budget, requirements, and existing mobile assets. Many of the options listed above offer POS hardware and supporting software. If you require just the functions and software of a POS system without investing in hardware terminals, you can opt for a cost-effective UEM solution to turn existing devices into POS systems.
The above-listed solutions also offer different pricing plans to choose from on their website. You can assess the features needed for your business and the number of POS terminals to decide which plan to choose. We suggest generally opting for solutions that offer a free trial to evaluate their functions and suitability to your business. Software that require minimal training and can be up and running quickly might be preferred. This will help save valuable time and resources.
