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8-Best-POS-Inventory-Systems-in-2023

Inventory is one of the essential parts of a retail business; it can be tough to manage without an efficient system. This is especially true for a POS system not designed with inventory management in mind.

If you want to ensure that your inventory is always organized and easy to track down at all times, then it’s essential that you choose a POS system that comes with an integrated inventory management tool.

But how do you choose the right one in the sea of POS systems out there?

In this post, we’ll look at some of the best POS inventory management systems currently available on the market.

Let’s dive in.

What is the POS Inventory System?

A POS (point of sale) inventory system is software that helps manage the inventory of a business. It is used in retail stores and restaurants, where it calculates the number of available items on hand and keeps track of how many are sold or consumed.

Top 8 POS Inventory systems.

When it comes to POS inventory systems, there are many options available for you to choose from. The best way to determine the right one for your business is by knowing what each option offers and how it might fit your business’s needs.

These are some of the most popular POS inventory systems out there today:

1. Posbytz.

This cloud-based system allows you to manage inventory from any location. It is designed for small and medium-sized businesses and offers various features that make it easy for you to keep track of your inventory levels.

PosBytz allows you to manage all your outlets from a single platform. Whether you run a single outlet or chain, PosBytz works excellently for all your locations and can be monitored centrally. This makes it easy for you to keep track of your inventory at all times across all sales channels. It also allows you to manage the staff, track your sales and many other things that help you run a smooth business.

It also comes with a mobile app, which makes it easier for you to manage your business on the go. PosBytz’s inventory management software provides complete audit logs and other reports allowing you to track your inventory and its cost.

Pros:
  • Comprehensive inventory management system that allows you to track your inventory along with multiple batches and expiry notifications for products & items.
  • Complete omnichannel solution to manage both Online ecommerce  and offline outlets using one single inventory.
  • Location wise pricing , tax , inventory stocks and reports can be managed easily.
  • Provides complete audit logs and other reports allowing you to track your inventory.
  • Can be used for different types of businesses including retail stores, boutique stores, restaurants, QSR  and many more.
  • Allows you to manage all your outlets from a single platform
  • In-built Accounting management system to manage your bookkeeping and financial reports.
  • Many inventory related reports like Cost of Goods , Stock valuation reports, Stock in/out report , Profit & loss , product expiry , purchases , vendor ledgers etc..,
  • Best customer support.
Cons:
  • Nothing huge as of now.
Pricing:
  • Free plan.
  • Lite plan: $ 39/month. 

 

2. LightSpeed.

Lightspeed is a cloud-based POS system designed with small businesses in mind—particularly those retailers who have massive inventories and need to classify their products by multiple variants.

The system allows you to create multiple categories for your products and assign each of them a unique ID, which will help you track them down quickly. It also has an inventory management feature that can be used to keep track of the items that are sold and restocked.

Pros:
  • Easy to use.
  • Fast and efficient.
  • Works well with multiple inventory management systems.
Cons
  • The user interface is not friendly.
  • Poor customer support.
Pricing:
  • Lean: $79/month.
  • Standard: $139/month.
  • Advanced: $239/month.

 

3. Square POS.

With Square’s essential inventory control, you can manage individual items in your inventory, enable alerts for when certain conditions are met (like price drops), export information about what things you have on hand to other apps or websites that may need it and view a history of past orders.

Square can accommodate businesses of all types and sizes. With its ability to conduct transactions from a mobile device, it’s also an ideal choice for craft fair vendors or food truck operators without physical locations. Square for Retail and Square for Restaurants offer more specialized features, depending on the needs of retailers or restaurateurs.

Pros:
  • Support for multiple currencies and languages
  • Regular software updates to improve functionality and fix bugs
  • A simple, intuitive interface that’s easy to navigate
Cons:
  • Can be expensive if you’re not using it for many transactions
Pricing:
  • Free.
  • Plus: $29+/month.
  • Premium: Custom pricing.

 

4. ShopKeep.

ShopKeep has multiple inventory management tools that can help you manage your inventory and keep track of what’s on hand. It also has a point-of-sale system also comes with real-time inventory tracking, reorder alerts & sales trend analysis.

ShopKeep’s sales by quantity sold and sales amount reports provide a quick look at your top-selling products.

Pros:
  • Has a customizable interface
  • Can integrate with other apps and systems
  • Has a mobile app
Cons:
  • Can be pricey for very small businesses
Pricing:
  • Custom pricing.

 

5. Toast POS.

Using Toast’s inventory module, you can combine sales data with regular inventory counts to get accurate and diagnostic information that will help you improve your restaurant’s profitability and efficiency.

Its clear, streamlined and consistent inventory tracking system makes it easy to follow the process of counting employees for payroll, ramping-up new staff members and ensuring that accurate counts are taken regularly.

Pros
  • Can be used for a variety of businesses, including restaurants and bars
  • Has a mobile app
  • Can integrate with other apps and systems
Cons:
  • No notifications about the new feature updates.
  • Comes with additional costs.
  • Mostly suits for Restaurant Business
Pricing:
  • Free.
  • Essentials: $165/month.
  • Custom pricing is available.

 

6. Clover.

Clover’s innovative Inventory app makes ordering, stocking, and serving customers easier for your business — not just online orders but all POS transactions. Clover also integrates with many other popular restaurant management software systems, making setup quick and easy for restaurateurs.

The app can manage your inventory, manage employee shifts and accept online orders. The app is designed to work with all Clover POS systems, so you don’t have to worry about compatibility issues.

Pros:
  • Saves you time by eliminating manual data entry.
  • Integrates with many other popular restaurant management software systems.
  • It’s easy to use and set up.
  • You can manage employee schedules, accept online orders and manage inventory all in one place
Cons:
  • Turns expensive with additional transactions.
Pricing:
  • Custom pricing.

 

7. Touchbistro Inventory.

Touchbistro Inventory is a cloud-based inventory management software that helps you track your inventory with detailed reports and controls.

The app allows you to organize your products by type, price and location; view real-time sales and profit margins for each item; set reorder levels for all of your items; automatically calculate tax rates on every sale; generate purchase orders based on specific quantities of an item (such as buying in bulk); create custom reports from these orders including order history, product price changes, notes about individual orders; manage employees.

Pros:
  • A great user interface makes the system easy to use.
  • It is also customizable, so it can be tailored to meet your restaurant’s specific needs.
  • This product works for any type of restaurant—whether you are selling quick-service food or high-end cuisine!
Cons:
  • TouchBistro is been reported to be difficult to find, buy and set up because all the hardware is needed.
  • It isn’t cloud-based but has a cloud-based reporting tool
Pricing:
  • Solo: $69/month.
  • Dual: $129/month.
  • Team: $249/month.

 

8. Revel.

Revel is an inventory management software that offers features like order tracking and reorders reminders to help you manage your inventory. The app also allows you to search for products easily, add them to your inventory and track sales.

With Revel, you can monitor inventory levels and generate purchase orders without worrying about whether your stock will run out.

Pros:
  • Availability of multiple integrations.
  • Access to processed data
  • Loads of back-office tools
  • Interesting additional features
  • Can be used at multiple stores
Cons:
  • It takes time to learn how to use the POS.
  • Complex pricing models can be cost-prohibitive to potential customers.
Pricing:
  • Starts from $99/month.

 

Features of a POS Inventory system

A POS Inventory system can help you manage your inventory and ensure you don’t run out of stock. Here are some features to look for in a POS Inventory system:

1. Easy-to-use interface

You want inventory management software that’s easy to use, so it doesn’t feel like an extra burden on top of everything else. The interface should be intuitive, with features that are easy to find and use. It should also be responsive so you can use it on your mobile devices without any problems.

2. Real-time inventory

The app should be able to update your inventory levels in real time so that you don’t have to update them every time a customer buys something manually. One inventory for both Online (e-commerce) and Offline (outlets)

3. CRM

To grow your business, customer relationship management is essential. You can create targeted marketing campaigns using CRM software to stay connected with customers and improve business relationships.

4. Detailed analytics

The app should provide you with detailed analytics, so you can get a clear picture of how your business is doing. This will help you avoid making mistakes and improve sales performance in the long run.

5. Support for multiple stores

If you have several locations, each one should be supported by the same platform. This will help you keep your data in sync and provide a consistent experience to customers.

Conclusion

Retail and restaurant businesses need to process sales, maintain inventory levels, and order supplies—all in one place. A POS (point-of-sale) system is the way to do that: it allows you to ring sales quickly; track products easily; analyze data, so you know which items are most popular or how many of them are left on your shelves; and reorder products with just a few keystrokes.

Posbytz offers its users a variety of standard features, including payment processing, inventory tracking and low stock alerts. But the real advantage that Posbyz holds over other POS systems is its unparalleled reporting and analytics—customizable reports with graphs.

Want to get a better handle on your inventory? Posbytz can do it. Creat e your free account and stay updated about every piece of information for free.

Frequently asked questions

 
1.How do I get started with a POS system?

The first step is to signup. Once you’ve registered for an account, you can add your store location, products and employees. Once set up, you can begin processing purchases quickly and easily with just a few clicks.

2.What are the benefits of using a POS system?

The most obvious benefit is that you will make more sales. Customers can place orders quickly and easily with just a few clicks, so they will likely spend more time at your store. You can also improve your inventory management. You can track what’s selling, what needs restocking and how much inventory you have left. This will allow you to make smarter decisions about ordering products in the future.

3.Which POS system is right for you?

There are many different POS systems available, and choosing one that will meet your needs is essential. You should consider things like whether it has a built-in inventory management system or if you need to purchase additional software. Posbytz will be the best fit for you if you want to make your business more accessible and efficient.

 

Related Resources

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