What is a POS cash register?
A point of sale (POS) system, also known as an electronic modern cash register, is becoming a necessary tool for many businesses in different industries. Both the retail and restaurant industries utilize cash register POS systems to operate more efficient businesses. Modern cash registers contain features, such as inventory management and financial reporting. POS cash registers are available in various levels of complexity to meet the needs of different types of businesses.
Before you choose the best POS cash register system for your business, it would be useful to determine the difference between a traditional cash register and a POS system.
Traditional Cash Register vs. POS System
A traditional cash register was once a must-have tool for businesses that sold goods to consumers. Retail and restaurant cash registers allow you to store cash in a drawer, ring up sales, store receipts, and calculate tax. Some cash registers included the functionality to add hardware, for example, barcode scanners and card readers, at an extra cost. Traditional cash registers are very affordable, with starting costs about $100.
A cash register POS system provides all the features that are available in a traditional cash register, but with more sophisticated options for better business management. There are two types of POS systems – the traditional POS and the latest technology-enabled mobile point of sale (mPOS).
Traditional POS systems have been used in the retail and restaurant industry for many years. They normally include a server on the premises to store data. Traditional POS systems also include hardware, like a touchscreen device and a desktop computer. You have the option to add more hardware, such as credit card readers, to traditional POS systems. You could pay a minimum of $1,500 for every terminal that runs on traditional POS systems.
mPOS systems operate on iPad or Android instead of a PC. Most mPOS systems are based in the cloud, so restaurateurs and retailers aren’t required to store servers at their premises. A big advantage of using an mPOS system is that you’re able to access data relating to your business anywhere there’s an internet connection. Some mPOS systems also allow you to work offline in the event that you have no Wi-Fi. The cost of mPOS systems is typically a monthly subscription fee because of the software as a service model. However, you’ll have to pay for any hardware that accompanies the software, for instance, barcode scanners and cash drawers.
Benefits of POS Systems
The best POS cash registers provide the following benefits to your business:
More reliable data – The reporting and analytics functions of modern POS cash registers provide you with the data to make smarter business decisions. The various reports can help you with everything from recruitment to marketing.
Better inventory management – It’s critical to know the status of your stock levels at all times. Modern cash register POS systems give you real-time and automated updates about your inventory. This allows you to have accurate information about the products you need to re-order, therefore preventing wastage.
Efficient workforce management – Most modern cash register systems for small business have the ability to integrate with employee management software, like Deputy. Our scheduling software works alongside your POS system to simultaneously allow staff to clock in and out, without interrupting sales transactions. Schedule a call below to find out how Deputy will make the ideal workforce management integration to your POS system.
Improved marketing – Some cash register POS systems for small business give you the opportunity to target customers by providing loyalty schemes and also the functionality to collect email addresses.
Integration options – The best POS cash registers will allow you to integrate your existing or new software to create a complete business management solution. Marketing and payroll are some of the systems that can be integrated into POS cash register systems to help you manage your business seamlessly.
The 7 best POS cash registers
As noted above, the best POS cash registers for small business provide many advantages, but they must also be easy to use and affordable. If you’re looking for a POS system for sale, a traditional system would meet your needs. However, if you don’t mind paying a monthly subscription fee, a modern electronic cash register POS system will allow you to make payments every month.
Here are seven of the best (in no particular order) POS cash registers for your small business:
Square’s POS system allows businesses of any size to accept credit cards anywhere. They provide a free card reader and convert your tablet into an Android or iPad kiosk. Square provides the functionality to accept cash, checks, and other types of tender. Square’s additional features include:
- Digital receipt management.
- Inventory management.
- Automatic upgrades.
- Appointment setting.
Square also integrates with different types of software including Deputy and Xero. Square’s pricing model begins at a charge of 2.5% plus 10 or 15 cents per transaction. Additionally, custom pricing packages can be created for a business that processes more than $250,000 in card sales annually.
Toast is a POS system for restaurants that are customizable to your needs. Toast provides a touch screen restaurant cash register to make receiving payment easy. This POS system can be used in different restaurants and cafes of any size. Toast has many features to facilitate the successful operation of a restaurant including:
- Online ordering system.
- Loyalty programs.
- Built-in customer relationship management.
The monthly fee for Toast starts at $79 dollars per month and a one-off installation fee starting at $499.
If you’re looking for a retail cash register and POS system, you should consider Vend. This software is popular amongst retailers, due to the inventory management and reporting capabilities. Vend’s retail cash register software provides customer loyalty initiatives and can be used on an iPad, Mac, and PC. Retail businesses of any size can use Vend to operate their business and the features include:
- Customer database.
- Real-time reporting.
- Available offline.
Vend integrates with several other types of software including Deputy and Stitch Labs. There are different price points for Vend’s retail cash register software. The ‘lite’ package for small retailers is $99 per month and multi-store retailers pay $129 per month.
QuickBooks Desktop Point of Sale provides retailers with a solution to process different types of payment methods. You can purchase different hardware to accompany QuickBooks POS. Cash drawers, pole displays, and wireless barcode scanners can be bought to accompany the QuickBooks POS software. QuickBooks POS features include:
- Inventory management.
- Customer relationship management.
- Customer reward and loyalty tracking.
QuickBooks POS integrates with its accounting software for seamless business accounting. QuickBooks POS system is for sale with a starting sale price of $720 for the basic version. The pro version of their POS system is for sale at a discounted price of $1,020. The multi-store option costs $1,140 after a discount is applied. After you’ve purchased the hardware, there are monthly plans depending on your business type – starting at $5.
ShopKeep is another POS system that can replace traditional retail cash registers. This cloud-based software allows retailers to accept all types of payments, including cash, credit cards, and mobile payments. ShopKeep’s iPad cash register system provides the functionality of a cash register on an iPad. The ShopKeep Pocket App can be used with the iPad register to provide real-time business performance updates. ShopKeep’s POS system is versatile enough to be used in different industries, like restaurant, bars, and franchises, due to the following features:
- Customer marketing.
- Inventory management.
- Reporting and analytics.
ShopKeep integrates with QuickBooks and also Big Commerce to enable retailers to sell online. There are no contracts required to sign up for ShopKeep. You will need to provide your business details to get a quote, but prices start from $69 per month. You can also buy POS hardware to accompany the ShopKeep app for a complete POS cash register system. Included in the monthly fee is 24/7 support by live chat, phone, or email.
TouchBistro provides a POS solution, which runs on an iPad and includes a cash register to restaurants. TouchBistro can be used in all types of food and drink establishments, for example, pubs, food trucks, fine dining restaurants, and cafes. As TouchBistro is specifically geared towards the restaurant industry, it includes features such as:
- Table reservation.
- Delivery management.
- Floor plan and table management.
TouchBistro allows restaurants to choose the payment processor that’s right for them. So, you can select between Square, PayPal or other payment processors that best meet your restaurant’s needs. TouchBistro also integrates with QuickBooks and other third-party software, such as BarVision, which provides inventory management for your restaurant’s bar. TouchBistro’s pricing ranges from $69 per month for one license to $399 per month for unlimited licenses. All of TouchBistro’s payment plans are billed annually.
Upserve POS system helps restaurateurs manage their eating establishments from anywhere and in real-time. Upserve runs on iPad POS software and is compatible with most iPad models. The cloud-based model allows for automatic updates so that your restaurant won’t be subject to interruptions during operating hours. Upserve POS is similar to other restaurants POS and cash register systems because it offers integration with other tools, such as employee scheduling and accounting software. The ‘pro’ version provides restaurants with their own loyalty program which integrates with online ordering.
Upserve has features to help you to process payments, track inventory and manage tables in the most efficient way. Here are some of the features available on Upserve’s restaurant POS system:
- Table ordering.
- Kitchen display system.
- Menu and inventory management.
- Live reporting of sales.
The best POS cash register for your store, restaurant, or any other small business will depend on what you need and also your budget. You can use comparison websites, like Capterra, to review your shortlisted providers. Most POS cash register systems operate on an iPad kiosk for convenience and to allow for automatic updates. If you’re looking for an iPad kiosk for your chosen POS cash register software, this 4-piece set from Deputy could meet your needs.
Integration considerations are essential when selecting a POS cash register system for your business. All modern software should enable you to seamlessly link different tools in your business, for complete peace of mind. If you want to integrate the best POS cash register system with the best workforce management software, choose a solution that integrates with Deputy. Our employee scheduling software integrates with POS systems for different industries to improve your business workflow, efficiency, and profitability.
Sign up for Deputy’s free 30-day trial to find out how our employee scheduling software will benefit your business, both as a standalone tool and also when it’s integrated with your POS system or any other tool.