Comparison of POS Systems for Smarter Business Decisions

The global market for POS systems is expanding rapidly. You would be hard-pressed to find a business in the retail, entertainment, or auto repair industries, among others, that does not use a POS system. If you run a business in one of these industries, you either already use a POS system, or you need one.

One of the important things to keep in mind, however, is that you need to choose the right system for your business and sector. POS systems are not all alike; the system you use for your retail business will not necessarily suit an auto repair shop. Before you commit to a particular solution, it is a good idea to compare your options thoroughly. 

To help you make the right choice, we will first explain what a POS system is and what you should expect from it. We will then explain the differences between POS packages that are designed for retail vs. auto repair vs. entertainment. This detailed breakdown should make it easy for you to select a POS system that is ideally suited to your business.

Let’s start with the basics: a point of sale system (POS) is a combination of hardware and software designed to help businesses manage their day-to-day operations, including sales, inventory management, customer management, staff management and reporting. A POS system integrates and automates all of these functions. Its primary purpose is generally to facilitate sales and process payments, but this is only one part of what it does. At the same time, it also tracks inventory in real-time, monitors staff time and performance, and even manages customer data. It should also enable you to generate reports that you can use to manage your business and make informed decisions in the future.

POS systems generally feature the following essential elements:

These are the basic building blocks of a POS system, and they are common to those used across all sales-based businesses. However, there are certain specific features and modifications for specific industries, which we will cover in more detail shortly.

Each time you put a sale through your POS system, it follows the same basic procedure, consisting of the following key steps:

These POS basics are more or less the same across all available packages, but there are also plenty of nuances and unique features across these different platforms. This means that you need to assess your options carefully, and make sure to choose the one that is most suited to your business. Choosing the right POS software can be tricky, but it is easier if you follow these steps:

One of the key features of modern POS systems is their ability to gather customer information, which can be used to improve your service and boost sales in the future. POS systems do this in two ways:

Every time a customer makes a purchase, your POS system can add it to a growing history of sales associated with that particular customer. The system can then generate reports and recommendations on the basis of these aggregated past purchases. You can use the reports to sell to your clients in the future, either in person or via marketing tactics such as email and social media.

You can even go one step further and use the information gathered from your customers to create personal profiles for each one of them. This helps to personalize your customer service, as each returning client becomes an individual with a name, face and recognizable preferences. In relating to them as such, you make your business more than just a vendor or service provider. This is a highly effective way to retain customers for years.

Let’s now consider how different POS systems are suited for specific industries. The sector in which POS systems are most widely used is retail. There are plenty of different types of payment software for retail, so if you are in this sector, you will have plenty of options to choose from. Aside from the basics, POS systems should have the following optimized functions to offer the best value for retail businesses:

In retail businesses, accurate, real-time inventory tracking is essential. Choose a solution that integrates a sophisticated inventory management system. It should be user-friendly and enable the easy capture of product information. It should also work in tandem with your transaction management system so that your stock numbers are updated automatically every time you make a sale. If you work across multiple platforms and locations, your inventory software should also be able to manage all of them centrally and simultaneously, so you can monitor levels throughout your business at any time.

In tandem with your inventory management system, your POS solution should also offer the capacity to collate all your business data into accessible reports, which you can use to manage your business, create marketing strategies and make data-driven purchasing decisions. This function extends beyond inventory management. You can also use it to understand your customers and monitor your staff members’ compliance and performance.

When it comes to auto repair shop payment software, the emphasis shifts from sales to service. Orders and bookings are particularly important, and your POS software should be able to incorporate these.

With this software, you can track repairs and services from intake to delivery, all on a single platform. The system helps you keep track of all the work that needs to be done on a particular vehicle, and the parts needed to complete it. This helps you maximize efficiency and reduce your turnaround times.

A busy auto repair shop needs accurate and efficient scheduling. With carefully customized POS software, you can make and manage your customer bookings, send reminders to customers when their next service is due, and generally ensure that your shop runs efficiently without any risk of either overbooking or unnecessary downtime.

If entertainment is your business, you will want a POS system that is customized to the sale of tickets, souvenirs and food and drink concessions. This applies to the likes of theatres, amusement parks, movie theatres, and museums. Entertainment payment software has sophisticated customer management and employee management functions, as well as ticketing operations and cloud-based payment solutions.

Customer management systems enable businesses to capture client information, track purchase history, and create personalized marketing campaigns. Instead of simply selling a single ticket to one client, you can capture their details so you can send them marketing information and reminders when events come up that are similar to ones they have already attended.

Cloud-based POS solutions offer numerous benefits for the entertainment business, including:

Access2Pay is a feature-rich, cloud-based POS solution that can be customized to businesses in a broad selection of industries, including retail, auto services, entertainment and government offices. Our solution effectively saves you from having to do a detailed comparison of POS systems because we can build a customized solution that ticks all the boxes on your list of essential features. Contact us if you are looking for the best POS solution for any of these industries.