Why is Point-of-Sale (POS) Software the Core Necessity Of Business?
As the business landscape keeps changing, the software and technology requirements for each business are also dynamic. Making one-size-fits-all is a rare scenario. However, there are many such queries about the POS as well in the market. There are diverse industries that need POS solutions.
Firstly, let me tell you what POS is, so basically, it is termed a Point-of-sale. It is the facility offered by retailers to customers for making their payments of purchase. POS generates bills inclusive of taxes and allows customers to make payments in either cash, cards or online mode.
The demand for custom POS software has increased and emphasizing that, we thought to bring this topic to light. Continue reading to learn what the future market is anticipating about POS and learn about the top POS solution providers.
Forecasts & Prominence of POS in the near future
- Around the world, the Point of Sale (PoS) market size is predicted to grow from $29.02 billion in 2023 to $81.15 billion by 2030. It was $25.28 billion in 2022.
- Reports say that the total transaction value is projected to display an annual growth rate (CAGR) of 18.46% during 2023–2027. Consequently, it shall reach a total amount of USD 1.28 Trillion by 2027.
- The POS Terminals have exceeded USD 70 Billion in 2022 and expand at over 9% CAGR from 2023 to 2032. It’s due to the technological advancements in payment and encouraging response on Europay, Mastercard, and Visa (EMVs).
- By the end of 2026, the restaurant POS market is estimated to surpass $30.9 billion.
The figures reflect the stormy growth of POS solutions across the industries in this decade. It has been adding a new feather to the cap by providing loyalty programs and automation of the process. Therefore, there is no reason left to not switch your conventional POS to a new technology-driven one.
Which are the top POS solutions for businesses today?
- Clover POS Solution
The Clover POS solution is a state-of-the-art POS solution that offers overall POS needs. It is better used for getting the potential POS hardware. It offers quickly set-up hardware to manage your business operations efficiently.
You can easily sync the POS and mPOS from the cloud to access your sales, refunds, payments, bills, etc reports remotely. You can get Clover station hardware for your store. Although it offers software as well, you turn out for other third-party software in your Clover station. For cost-effective options, we also have our own POS software built by software engineers. You can check out the details here.
Related: Top Industries that Can’t Avoid Leveraging the POS Software
- Ingenico POS Solution
The best instance of a cloud-based POS terminal, Ingenico allows businesses to handle card payments securely. It is the potential card machine POS that makes restaurant businesses oversee the in-premise payments. Also, it detects the EMV chip for processing the transactions. You can scratch both credit and debit cards for payment processing. Simply having this POS terminal at your retail or restaurant counter allows you to conduct the transactions.
- Micros POS Solution
With a focus on real-time transaction management, Micros is also an engaging POS platform. It automates the back office operations for your business which increases productivity. So, it prevents the manual process and eliminates human errors. It provides the hardware, software, and innovative features. Accordingly, you can also build custom POS software solutions by partnering with the right software developers.
Moreover, the new technological implementation makes the solution deliver accurate reports. You can also optimize its capabilities with third-party integrations. Hence, it is the one-stop solution for order, inventory, invoice, and payment management at retail stores. All these make Micros POS favorable for any business type.
Related: How Does a POS System Make Your eCommerce Business Generate Better ROI?
- Verifone POS Solution
Lastly, there is a Verifone, based on the integrated POS solution. It is an amazing POS system that works to improve the user experience. You can deliver more personalized payment solutions which even bring higher ROI. It is a versatile POS for both small and big businesses. However, it is more used for the convenience store POS. So, it works effectively for Hospitality, Fuel stations, and Retail enterprises.
Wrapping Up
In conclusion, POS software solutions are an inevitable aspect of any business. Moreover, if you are a business owner, you can also get to create your own POS system. It will turn out as an earning solution to lend the services to other enterprises in the future.
Subsequently, if you are willing to make your POS software, you can outsource your project to us. We have been a well-known POS software development company and satisfy clients from worldwide. Consult our professionals for POS software now!
