Top 10 Best POS Companies in India in 2023
What is a POS?
A point-of-sale, or POS, is a device used to process retail customer transactions. A cash register is a type of point-of-sale device that has largely been replaced by electronic POS terminals that can accept debit cards, credit cards, and cash at present.
A point of sale (POS) can be a physical device in a physical store or a checkout point in a web-based store.
POS device software is becoming more sophisticated with time. The device offers features that allow retailers to monitor inventory and purchasing trends, collect marketing data, and track pricing accuracy.
A POS system basically acts as the hub of your company’s transactions. Your POS integrates customer management, sales management, and inventory management.
Understanding POS
Points of sale (POSs) are a key area of focus for marketers because customers frequently decide to purchase high-margin goods or services at these strategic locations. Retailers have traditionally placed POSs near exits to increase the rate of impulsive purchases when customers leave the store. Diverse POS locations, on the other hand, may provide retailers with more opportunities to micro-market specific product categories and impact customers early in the sales funnel.
A POS system basically acts as the hub of your company’s transactions. Your POS integrates customer management, sales management, and inventory management.
Point of sale systems are a combination of hardware and software. A number of physical elements may make up a POS system, including a tablet, a monitor, a barcode scanner, a receipt printer, a credit card reader, and a cash drawer.
The benefits of a POS system
A POS system is the way to go if you’re trying to simplify the way your business is run. POS systems are filled with advantages for your small business.
Some of the advantages of having a POS system include;
1. Facilitates transaction automation
2. Monitors significant sales data
3. Displays sales trends
4. Recognizes price or cash flow inconsistencies
5. Keeps track of inventory levels and
6. It generates daily sales data.
POS can also assist in managing other critical aspects of your business, like employees, inventory, and customer relationships.
What to look for in a POS system?
It can be hard to choose a POS system for your company. However, spending some time researching point-of-sale solutions can truly pay off. The requirements of your company will determine the kind of POS system you require.
One should look for the following characteristics in a POS system to save business time and money:
1. Security: When choosing a POS system, security must be a top priority. The security of your company’s and your customers’ data should be your top priority.
Make sure you inquire about the system’s level of security and whether it is compliant with the most recent requirements as you weigh your options.
2. Detailed reports: Most POS systems offer some level of sales data. But some systems outperform others when it comes to delivering thorough sales reports.
While searching for a point-of-sale system, find out what kinds of reports are offered. List the many types of report data you require. You may require a report that is able to
a. Choose your top and worst-selling products.
b. Display prices and cost margins.
c.Keep track of product and department sales.
Also, see if you can export reports as well. By using exportable reports, you may quickly give accounting data to your accountant or the person who handles your accounts.
3. Easy to use: Nobody wants a system that is difficult to use and understand. When purchasing one, look for a POS system that strives for excellence.
Your POS system is supposed to make daily operations easier rather than complicate them. To determine the usability of a POS system, read online reviews, watch videos, and see if a demo is available. If the system appears difficult to use and manage, keep looking at other POS competitors.
4. Reliable: Make sure the POS system is dependable while searching for one. It wouldn’t make sense to spend money on a system and time learning it just for it to break down after a few years.
To determine whether a system is worth your time, effort, and money, take the time to carry out your research.
Let us take a look at the top 10 best POS companies in India in 2023.
Let us take a look at the Top 10 Best POS Companies in India in 2023.
1. Hostbooks Accounting
HostBooks, a GST Application Service Provider (ASP) that is listed on the National Securities Depository Limited (NSDL), provides Automated-All-In-One Accounting and Compliance Solutions for GST return filing and billing, TDS return filing, invoice and E-way Bill creation, Accounting, Payroll, and Tax.
It cuts the value in half and the compliance time down by at least 50%. HostBooks additionally guarantees minimal latency with 99.99999 SLA uptime as an Amazon Web Services (AWS) Consulting Partner.
Additionally, it gives you bank-grade security and saves you important time by streamlining the TDS, GST, E-way Bill, accounting, payroll, and tax processes.
2. Ginesys
The cutting-edge retail software from Ginesys combines the best features of POS and Retail ERP. Manage several stores with ease and, if necessary, upgrade to e-commerce by integrating offline and online. It is cloud-based and is created with the needs of the modern retail business in mind to provide you with peace of mind.
Ginesys provides services to producers, traders, distributors, and retailers in industries like fashion and lifestyle, brands, luxury, supermarkets, etc. in charge of store types like EBOs, SIS, MBOs, franchisees, or LFS.
Ginesys’ concept of delivering a retail management ecosystem under one roof is paired with the use of cloud, AI, BI, and a tech staff. More than 1200 clients use Ginesys, and they come from industries including fashion and apparel, supermarkets, lifestyle, etc., with names like Manyavar, Eske ‘Paris, Ranna Gill, and others.
3. Torqus
By providing all-inclusive restaurant management software with hassle-free solutions that increase your business’s revenue at the lowest possible cost, Torqus seeks to help the restaurant industry.
The Torqus Restaurant POS software and Material Management system not only make the billing process more efficient, but it also makes it possible to evaluate and analyze each branch by producing a variety of reports.
The entire package begins with procurement and ends with client feedback.
Through the use of loyalty promotions, they assist restaurateurs in enhancing their top line revenue and boosting their bottom line revenue by reducing wastage, leakage, theft, and pilferage and optimising expenses through supply chain management.
Torqus has innovation, usability, simplicity, and performance as its core values. The POS service can be improved by combining aspects of hotel industry insights, technologies, current trends, and new technology.
4. Shopify
Shopify is a well-known eCommerce platform for startups and small businesses.
It assists merchants with marketing, pop-up, and offline store sales of their goods. An Android phone can be used to complete all additional tasks, including processing orders and taking payments.
Themes, applications, templates, and SEO capabilities from Shopify make it simpler to launch a business online quickly.
The advance packages are free for the first 14 days, after which they get expensive.
They provide cutting-edge options, including online and in-store item purchasing. The cost per month ranges from Rs 2000 to Rs 6000.
5. Marg
The MARG Retail Point of Sale Software is made to cater to all the requirements of a retail outlet or a chain of retailers in a very effective, efficient, and precise manner.
The feature-rich, highly configurable POS billing software from MARG is the best point-of-sale system for small companies in India.
It manages the inventory and gives details on items that have run out of stock, are due to expire, etc. It features barcode reading capabilities and can manage regular promotions, sales and purchases, and discounts; documentation; finances; MIS; and inventory management.
Marg POS offers a solution that aids in quick and simple product billing, customisation, reordering management, SMS and email integration, among other capabilities.
6. Lightspeed
Lightspeed’s POS solutions are used by retailers, hotels, restaurants, and other businesses. Employees can quickly understand it, and deployment is simple.
This program’s features include customer tracking, reporting, and inventory management, to name just a few.
Everyone may use the POS solution, and many users commend it for its effectiveness and speed. The software system can be used by many different organizations to handle customers, sales, inventory, vendors, and employees. You can manage anything from anywhere using your laptop, iPhone or iPad device, or desktop.
The POS solution can track sales, customer loyalty cards, employee time, payment processing, and inventory. The software’s comprehensive reporting feature presents statistics on employee performance, inventory, and real-time sales.
For 14 days, you can use the complete platform for free to test out all the features. If you like what you discover, Lightspeed will work with you to set up the appropriate hardware for your company.
Track unit costs, receive stock-level alerts, and even sell out-of-stock items that will be delivered as soon as they arrive.
7. GOFRUGAL
GOFRUGAL is the sole provider of comprehensive digital solutions to the retail, restaurant, and distribution industries. They have more than 25,000 customers spread out throughout 60+ countries after more than 14 years. It provides the broadest range of products, including mobile apps, cloud POS, and desktop POS.
GOFRUGAL aids in managing payment, billing, and delivery; offers a variety of payment options; alternatives for loyalty programs; allows for the integration of POS and ERP; and facilitates effective storage operations.
Starter GoFrugal retail POS kits cost Rs. 15,000 initially.
Since 2004, GoFrugal Technologies has offered hybrid POS systems for stores. They are perfect for Indian firms because of their excellent after-sales service track record.
You can access all the features on a single, simple platform. The GoFrugal retail POS can also be used to manage the eCommerce website.
8. Posist
POSist is more than just a POS system; it offers the restaurant industry a complete restaurant pos solution.
It is a comprehensive cloud-based POS system with four key components: CRM; billing; stock and inventory management; analytics; and reporting. POSist also meets the operational needs of restaurants by providing customised Cockpit apps, feedback apps, waiter apps, delivery apps, and so on.
It is present in 20 countries worldwide and has served over 8000 restaurants.
POSist offers inventory and stock management, CRM management, and more.
Billing reporting and analytics.
POSist maintains effective inventory and order management and provides information to help you target the right audience.
9. Petpooja
Petpooja Billing Software is a complete restaurant management platform that can be used both online and offline. We have created a single point of contact software for all of your restaurant’s functions.
Petpooja currently has over 30,000 restaurants in India, the UAE, and South Africa.
A variety of tools and integrations are available in Petpooja’s basket, including billing and KOT, table and menu management, inventory management, customer relationship management (CRM), 50+ business reports, and more.
Basically, the service includes everything from tracking inbound logistics (accounting for raw materials and inventories) to generating a bill and gathering consumer feedback. To help you better understand your business performance and track your growth, we also offer business reports. You can essentially complete all of your work on a single platform, which will allow you to save a tremendous amount of money in every way.
In addition, Petpooja offers over 150 interfaces, including those with loyalty programs, meal delivery services, and payment gateways.
10. CAKE Point of Sale
To meet the needs of quick and full-service restaurants, CAKE designed its POS. It is easy to use, cheap, and simple. With line-busting OrderPads that direct traffic and a customer-facing display that allows customers to pay, tip, and sign privately from their own screen, you can manage quick service rush hours with ease. Rich guest profiles and automatic table status updates will boost your Full-Service POS. For restaurants, CAKE POS makes it simple to accomplish more each day.
Users of CAKE can keep tabs on sales in real time at various locations, as well as wages, hours, and overtime. Owners and managers can drill down into sales reports to find sales by week, day, or hour using the admin reporting module. Users who use payroll reporting can compare sales to labor costs per hour and calculate wages, overtime, and other costs.
The ability to track peak hours and customers is also offered on demand in real time. With integrations to PayPal, 7Shifts, Xero, Orca, Quickbooks, and Avero, CAKE provides an offline mode that enables users to manage restaurants and accept payments when there is no internet connection.
More than 250 innovative engineers work for CAKE Corporation and are always looking for ways to improve CAKE POS.
The key features of the software are Delivery Management, Gift Card Management, Inventory Management, Loyalty Program Support, Mobile Access, Online Ordering, Order Management, Recipe Management, Reporting/Analytics, Separate Checks, Split Checks, Supports Loyalty Program, Table Management, Tips Management, POS invoicing, Orders Management, Track & Secure Payments, Data Imports/Exports, Kitchen Management, Sales Analysis, Customer Data Base, Print Receipts, Cash Management, Billing Management, and Menu Management.
Many POS firms are sprouting in India to meet the growing demand for point-of-sale systems in the country’s rapidly expanding economy. While some POS systems are designed to serve large, multi-location businesses, others are better suited to small businesses that only accept cash. Several Indian POS systems support online ordering and eCommerce as well.
Conclusion
Thanks to the internet, it has never been more affordable to launch your own business. There has never been a cheaper time to start an online business or to drive to your local office supply store and buy a few labels and postcards.
A point-of-sale (POS) system is, nevertheless, going to be necessary once you start attempting to expand your business and automate some chores. POS systems are fantastic because they can manage all of your inventory and purchase orders, connect to your sales software, and offer customer support for in-person transactions.
You can more easily manage your inventory, keep track of sales, and manage your cash flow using a POS system. Management reporting is one of a POS system’s most crucial components. You’ll be able to see how much money you made, where it came from, what things did well or poorly, and which days were the busiest or least busy at your store with its help. You can use this information to create future business decisions that are better.
In 2020, the market for POS devices in India reached a size of roughly INR 26.7 billion. The market is expected to grow at a CAGR of 13.29% from 2022 to 2027, growing to over INR 56.6 billion by 2026.
Many POS firms are sprouting in India to meet the growing demand for point-of-sale systems in the country’s rapidly expanding economy. While some POS systems are designed to serve large, multi-location businesses, others are better suited to small businesses that only accept cash. Several Indian POS systems support online ordering and eCommerce as well.
edited and proofread by nikita sharma
