Choosing the right point of sale system for your business is crucial. If you can’t process payments, then you’re not in business!
From inventory management to payment processing, the best POS system software will help you grow your business faster and with more profit.
There are a myriad of POS systems to choose from in Australia, with different features and price points. We’ve put together this handy guide to help you decide which is right for your business.
Why you Need a Good POS System
- Reduce human error: Manual data entry and calculations are prone to mistakes, which can lead to incorrect pricing, inventory discrepancies, and accounting errors. A good POS system automates these processes, minimising errors and saving time.
- Increase business efficiency: Through streamlining sales transactions, inventory management, and customer data tracking, a POS system allows businesses to operate more efficiently. Staff can focus on customer service rather than administrative tasks, leading to improved productivity and profitability.
- Enhance customer experience: A reliable POS system enables faster checkout, accurate pricing, and personalised service, leading to a more positive customer experience. Features like mobile POS and contactless payments can further enhance convenience and satisfaction.
- Build customer loyalty: With a good POS system, businesses can collect customer data and purchase history, allowing them to create targeted loyalty programs and promotions. This personalised approach fosters customer loyalty and encourages repeat business. Efficient service and accurate transactions contribute to a positive brand image, further strengthening customer relationships.
Key Features of Best POS Systems
- Inventory management & tracking: Effective POS systems offer robust inventory management tools, allowing businesses to track stock levels, monitor product performance, and automate reordering processes. This helps prevent stockouts, optimise inventory levels, and ensure efficient order fulfillment.
- Customer relationship management & loyalty: Building strong customer relationships is crucial for business success. POS systems with CRM and loyalty features enable businesses to capture customer data, track purchase history, and create targeted marketing campaigns. Loyalty programs can also be implemented to reward repeat customers and foster brand loyalty.
- Payment processing & flexibility: A good POS system should support various payment methods, including credit cards, debit cards, mobile payments, and contactless options. This flexibility ensures a seamless checkout experience for customers and accommodates evolving payment trends.
- Employee management & sales reporting: Efficient employee management and sales tracking are essential for maximising productivity and profitability. POS systems can facilitate employee scheduling, track individual sales performance, and generate detailed sales reports. This data can be used to identify top performers, optimise staffing levels, and make informed business decisions.
- Integration with existing systems: To streamline operations and avoid data silos, POS systems should integrate seamlessly with other business tools, such as accounting software, e-commerce platforms, and inventory management systems. This integration allows for efficient data sharing, eliminates manual data entry, and provides a holistic view of business operations.
7 Best POS Systems in Australia
Square
Square is a versatile POS system that's gained significant traction in Australia, particularly among small to medium businesses. It offers a combination of free and paid plans, making it accessible for businesses at different stages of growth. The system is known for its straightforward setup, integrated payment processing, and comprehensive business management features.
Pros:
- Free basic plan available with essential features
- User-friendly interface requiring minimal training
- Affordable hardware options
- Built-in payment processing
- Strong analytics and reporting features
- Good inventory management in higher tiers
- Seamless integration with ecommerce platforms
- Regular software updates and new features
Cons:
- Transaction fees can be higher than some competitors
- Advanced features require costly premium subscriptions
- Occasional sync issues during high-traffic periods
- Customer support can be slow to respond
- Limited offline functionality
- Some features like gift cards require additional fees
Lightspeed
Lightspeed is a comprehensive POS solution that caters particularly well to retail and hospitality businesses. It's known for its robust features and advanced inventory management capabilities, though it comes at a higher price point than some competitors. The system offers industry-specific tools and detailed analytics.
Pros:
- Advanced inventory management capabilities
- Strong supplier network integration
- Detailed analytics and reporting
- Industry-specific features for retail and hospitality
- Excellent customer support
- Regular platform updates
- Comprehensive staff management tools
- Multi-location management capabilities
Cons:
- Higher monthly costs
- Steep learning curve for new users
- Requires stable internet connection
- Complex initial setup process
- Can be overwhelming for small businesses
- Additional costs for hardware
- Time-consuming staff training required
Shopify POS
Shopify POS is designed for businesses that want to unify their online and physical retail operations. It's particularly strong in its omnichannel capabilities, allowing seamless inventory and sales management across multiple sales channels. The system offers various plans to accommodate different business sizes.
Pros:
- Excellent integration between online and physical stores
- Intuitive user interface
- Strong inventory synchronisation
- Robust ecommerce marketing and loyalty features
- Compatible with third-party hardware
- Built-in ecommerce capabilities
- Regular platform updates
- Strong security features
Cons:
- Monthly subscription costs can add up
- Additional fees for advanced POS features
- Higher transaction fees for non-Shopify Payments
- Requires constant internet connectivity
- Some essential features restricted to higher tiers
- Can be expensive for multiple locations
- Limited offline capabilities
Learn more about Shopify payment gateways.
Commbank EFTPOS
CommBank EFTPOS is a straightforward payment solution backed by Commonwealth Bank. It's designed for businesses seeking a simple, reliable payment processing system with bank-grade security. While it lacks some advanced features of dedicated POS systems, it offers solid basic functionality.
Pros:
- Reliable payment processing
- Strong integration with CommBank services
- Competitive rates for CommBank customers
- Bank-grade security features
- Good basic functionality
- Reliable customer support
- Simple to use
- Established brand reputation
Cons:
- Limited advanced features
- Basic inventory management
- Restricted hardware options
- Limited third-party integrations
- Minimal reporting capabilities
- Monthly rental fees
- May require additional software for full business management
Hike
Hike is an Australian-developed POS system offering a balanced feature set for retail businesses. It provides strong multi-store capabilities and offline functionality, making it suitable for businesses with multiple locations or unstable internet connections.
Pros:
- Offline functionality
- Strong multi-store capabilities
- Good inventory management
- Local Australian support
- Easy integration with accounting software
- Customisable features
- Regular updates
- Good value for features offered
Cons:
- Interface could be more intuitive
- Slower feature implementation than competitors
- Complex reporting system
- Higher monthly costs for advanced features
- Limited hardware options
- Steeper learning curve
- Some integrations require additional setup
Zeller
Zeller is a newer entrant to the Australian market, offering a modern approach to payment processing and business banking. It stands out for its competitive pricing structure and integrated business banking features, though it's still developing its full feature set.
Pros:
- Competitive transaction rates (around 1.4%)
- No monthly subscription fees for basic services
- Modern terminal design
- Real-time transaction reporting
- Integrated business banking features
- Australian-based support
- Simple setup process
- Cost-effective solution
Cons:
- Limited inventory management features
- Newer to market with developing features
- Restricted third-party integrations
- Basic reporting capabilities
- Limited hardware options
- Less sophisticated than full POS systems
- May require additional software for complete business management
TouchBistro
TouchBistro is a hospitality-focused POS system offering specialised features for restaurants, cafes, and bars. It provides comprehensive restaurant management tools, though its specialised nature makes it less suitable for other business types.
Pros:
- Specialised hospitality features
- Strong table management
- Comprehensive menu customisation
- Offline capability
- Detailed hospitality reporting
- Good staff management
- Floor plan management
- Industry-specific analytics
Cons:
- Higher monthly costs
- Specific hardware requirements
- Limited use outside hospitality
- Costly for multiple terminals
- Complex setup process
- Additional costs for some integrations
- Can be overwhelming for small venues
Choosing the Best POS System for your Business
- Hardware: When choosing a POS system, it's important to consider the hardware requirements of your business. This includes the type of terminal, cash drawer, receipt printer, and other peripherals you'll need. You'll also need to decide whether you want a traditional countertop system or a more mobile option, such as a tablet-based POS.
- Software: The software is the heart of your POS system, so it's essential to choose a platform that meets the specific needs of your business. Consider the features you need, such as inventory management, employee management, and customer relationship management. You'll also want to make sure the software is easy to use and navigate.
- Ease of Use: Your POS system should be intuitive and easy for you and your staff to use. Look for a system with a user-friendly interface and clear instructions. You may also want to consider a system that offers training and support.
- Integration: Your POS system should integrate with other business tools you use, such as your accounting software, e-commerce platform, and CRM. This will help you streamline your operations and save time.
- Budget: POS systems can range in price from a few hundred dollars to several thousand dollars. It's important to set a budget before you start shopping and to compare prices from different vendors. You'll also want to factor in the cost of hardware, software, and ongoing support.
Summing Up
Selecting the right point of sale system is an important decision for your business. Here are our top recommendations:
- Best Budget POS System: Square offers a free basic plan, affordable hardware, and essential features that make it perfect for small businesses and startups. No monthly fees, just pay-as-you-go transaction fees.
- Best All-Rounder POS System: Lightspeed is a comprehensive system that excels in both retail and hospitality. Although it has a higher price point, it offers advanced inventory management, detailed reporting, and scalable features for growing businesses.
- Best Ecommerce POS System: Shopify POS is best for businesses selling online and in-store. It offers seamless integration between physical and online stores with built-in ecommerce features and inventory syncing across all channels.
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