Categories   >   Retail Management Software
Last Reviewed: November 26th, 2024

Best Retail Management Software Of 2024

What is Retail Management Software?

Retail Management Software (RMS) serves as the backbone for retailers. Catering to various operational tasks, it provides a centralized platform for functions including point of sale, inventory management, and customer relationship management. RMS tackles fragmented retail operations by synchronizing data across channels and locations, maximising profits, and ensuring a smother customer experience. The software's key features include barcode scanning, discount management, and receipt printing. Emerging trends to watch include AI analytics and heightened mobile integration. Tailored towards small and medium-sized businesses in retail, RMS assists in better managing day-to-day operations. A common hindrance, however, can be its implementation time and cost. In conclusion, RMS broadens control over business operations with a multi-functional platform, enriching overall business productivity and improving customer engagement, proving itself to be an indispensable tool for retailers.

What Are The Key Benefits of Retail Management Software?

  • Centralizes operations management
  • Boosts customer engagement
  • Streamlines inventory management
  • Enhances sales efficiency
  • Fosters data-driven decisions
  • Aids in store administration
  • Facilitates multichannel selling
  • Automates tedious tasks
  • Improves transaction speed
  • Offers sophisticated reporting
Read more

Overall

Based on the latest available data collected by SelectHub for 45 solutions, we determined the following solutions are the best Retail Management Software overall:

Clover
Clover
Start Price
$0.10
Per Transaction, 2.3% Flat Rate
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Clover

Clover shines for its user-friendly interface and extensive app marketplace, winning praise for its ease of use and flexibility. "It took my new employee barely a day to get comfortable with the system," one restaurant owner shared. Users rave about the ability to customize Clover with industry-specific apps, like a salon owner who added online booking, saying it "streamlined appointments and boosted customer satisfaction." However, Clover's appeal may wane as businesses scale. Some users feel constrained by the reporting capabilities, wishing for the deeper customization offered by competitors like Shopify POS. "Clover reports were too basic for analyzing my inventory trends," noted one retailer. Additionally, transaction fees for high-volume businesses can become a sticking point compared to more cost-effective options like Stripe. Finally, some users caution about potential hardware lock-in, where switching to different POS systems or even upgrading within Clover can be expensive due to incompatible hardware. This can be a deal-breaker for businesses unsure about their long-term needs. Overall, Clover excels for smaller businesses or those prioritizing ease of use and app integrations. However, its limitations in reporting, fee structure, and hardware flexibility become more apparent as businesses grow, pushing them towards more powerful and scalable POS solutions. Ultimately, the choice boils down to prioritizing user-friendliness and flexibility in the early stages versus advanced features and scalability as a business matures.

Pros & Cons

  • Ease of use: Praised for its intuitive interface and touchscreen operation, enabling quick learning and adoption for new employees, saving training time and boosting efficiency.
  • App customization: Users love the vast app marketplace offering industry-specific integrations and features, like appointment booking for salons or online ordering for restaurants, tailoring Clover to unique business needs.
  • Data-driven insights: Detailed sales reports and inventory tracking are seen as game-changers, providing valuable data to optimize operations, identify marketing opportunities, and make informed business decisions.
  • Reliable hardware: Users appreciate the quality and durability of Clover hardware, minimizing downtime and disruptions during peak hours, with features like offline payments ensuring service even without internet.
  • Scalability and flexibility: Clover's ability to adapt to growing businesses is a plus, with various hardware options and plan upgrades facilitating smooth transitions as transaction volume and business needs increase.
  • Higher monthly fees for high volume: While competitive for low-volume businesses, Clover's transaction fees and higher-tier plan costs can become significant for businesses processing large volumes, making other options like Stripe potentially more cost-effective.
  • Limited reporting customization: Users with complex reporting needs may find Clover's report customization options insufficient, lacking the depth and flexibility offered by dedicated business intelligence tools or high-end POS systems.
  • Potential hardware lock-in: Some features require specific Clover hardware, making switching to other POS systems or even upgrading within Clover potentially expensive as existing hardware may not be compatible.
  • Occasional app limitations: While the app marketplace is vast, certain industry-specific features or integrations may be missing, requiring workarounds or alternative solutions if Clover doesn't fully address a specific business need.
  • Steeper learning curve for complex features: While basic operations are user-friendly, advanced features like inventory management or employee roles can require more training and familiarization, potentially slowing down adoption for some users.

Key Features

  • Intuitive interface: Easy-to-use touchscreen interface for quick navigation and efficient transactions.
  • Payment processing: Accepts major credit cards, debit cards, contactless payments, gift cards, and more.
  • Inventory management: Track stock levels, set alerts, and generate purchase orders to optimize inventory control.
  • Employee management: Track employee hours, assign permissions, and manage payroll with ease.
  • Sales reporting: Generate detailed sales reports to track revenue, analyze trends, and make informed business decisions.
  • Customer management: Store customer information, track purchase history, and create loyalty programs to foster customer relationships.
  • App marketplace: Access a wide range of third-party apps to extend Clover's functionality and cater to specific business needs.
  • Hardware options: Choose from various terminals, card readers, and printers to create a custom POS setup that suits your business.
  • Mobile app: Manage your business on the go with Clover's mobile app for iOS and Android devices.
  • Cloud-based: Access data and manage your POS system from anywhere with an internet connection.
  • Security: Protects sensitive customer data with industry-leading security measures.
  • Customer support: Offers 24/7 customer support via phone, email, and online resources.
Toast
Toast
Start Price
$69
Per Terminal, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Toast

Toast garners praise for its user-friendly interface, robust reporting, and mobile capabilities, making it a popular choice for restaurants of various sizes. Users appreciate its intuitive design, which simplifies training and streamlines daily operations compared to competitors like Square and Lightspeed POS. Toast's extensive reporting, often highlighted as superior to competitors, empowers data-driven decision-making by offering detailed insights into sales, labor, and customer behavior. Additionally, the ability to manage orders and payments tableside using mobile devices sets Toast apart, enhancing staff flexibility and customer service during peak hours.

However, concerns arise regarding Toast's pricing structure, customization options, and technical glitches. The multi-tiered pricing, perceived as more complex than competitors, can become expensive for businesses with specific needs or multiple locations. While Toast offers various features, users sometimes find them less customizable than those in competitors like Revel Systems, restricting their ability to tailor the system to their unique workflows. Occasional technical issues and reported long wait times for customer support raise concerns about reliability compared to competitors known for their robust technical support, such as Micros.

Ultimately, Toast's strengths in user-friendliness, reporting, and mobility resonate with many users, but its pricing complexity, limited customization, and potential technical issues demand careful consideration. Deciding factors often boil down to individual business needs, budget constraints, and desired level of customization. Weighing Toast's strengths against its potential drawbacks alongside competitor offerings becomes crucial for making an informed decision.

Pros & Cons

  • Intuitive interface: Users consistently praise Toast's easy-to-learn and navigate interface, with clear menus, large buttons, and simple workflows, making it accessible for staff of all technical levels.
  • Robust reporting: Toast's comprehensive reporting tools provide valuable insights into sales, inventory, labor costs, customer behavior, and more, empowering data-driven decision-making.
  • Mobile flexibility: Staff can take orders, process payments, and manage tables directly from tablets or smartphones, enhancing tableside service and flexibility during busy periods.
  • Reliable payment processing: Users commend Toast's integrated payment processing for its speed, reliability, and security, ensuring smooth transactions and minimizing downtime.
  • Scalability for growth: Toast's ability to accommodate multiple locations, expanding menus, and growing staff needs makes it a popular choice for businesses with expansion plans.
  • Pricing complexity: Users express frustration with Toast's tiered pricing structure, which can become confusing and expensive, especially for businesses with multiple locations or add-on features.
  • Limited customization: Some users find Toast's customization options for menus, reporting, and workflows to be somewhat restrictive, hindering their ability to tailor the system to unique business processes.
  • Technical glitches: Users occasionally report software glitches, hardware issues, or slow performance during peak hours, leading to temporary disruptions in operations.
  • Customer support wait times: While Toast offers 24/7 support, users sometimes experience long wait times for phone assistance or delayed responses to inquiries, causing frustration when urgent issues arise.
  • Inventory management limitations: Users with complex inventory needs, such as multiple suppliers or intricate recipe tracking, find Toast's inventory management capabilities to be somewhat basic and lacking in advanced features.

Key Features

  • Online Ordering: Allow guests to order food online for takeout and delivery, schedule orders in advance, access the online menu and make contactless payments. Receive new orders directly in the restaurant’s point of sale system, customize the online ordering page, access customer insights and request guest feedback to modify services. 
  • Gift Cards and Rewards: Boost customer influx and increase revenue by selling modern e-Gift Cards. Allow users to text or email cards for in-store and online purchases. Check card balance and schedule gift cards in advance to build relationships with customers. Sell customized physical gift cards and review detailed reports on gift card sales. 
  • Expedited Delivery: Create an on-demand delivery network with local drivers at a single per-order fee. Simplify the process with real-time order tracking and advance scheduling, online payment options and review restaurant services based on customer behavior with reporting and analytics. 
  • Email Marketing: Improve communication and drive customer retention with emails. Run targeted promotions, increase revenue, automate outreach and campaigns, create custom email lists, run A/B tests to refine communication, and send customized messages to deepen brand loyalty. 
  • Self-help Services: Accelerate the online ordering experience with self-help kiosks. Leverage quick restaurant service, reduce wait times and increase staff productivity. Offer a personalized dining experience with order add-ons, SMS notifications and real-time menu updates. 
  • Workspace Management: Facilitate efficient team regulation with a centralized labor management system. Log and track work hours, monitor timesheets, calculate tips, ensure paycheck accuracy with automated wage recording, register new staff electronically and more. Get insight into employee performance with detailed reports and analytics. 
Mindbody
Mindbody
Start Price
$159
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Mindbody

Mindbody is a business management software designed for gyms, spas, salons and other businesses in the wellness industry. On the plus side, it offers an innovative user interface, calendar syncing, marketing and CRM integrations, and insightful reporting capabilities. It offers a dynamic booking and scheduling system to schedule group sessions, set appointments, sell retail products, manage staff hours and more.

Based on user reviews, the software faces frequent crashes and bug problems. Customer service executives are undertrained and take hours to respond. All things considered, Mindbody is an ideal solution for businesses in the yoga and fitness industry.

Pros & Cons

  • User-Friendly: The system offers a practical and innovative interface with quality graphics, according to 80% of users who reviewed this element.
  • Reporting: 60% of users who mentioned this feature said reporting tools are extensive and varied.
  • Functionality: 90% of users mentioning functionalities said the software offers great scheduling, booking and cancellation options.
  • Customer Service: The support executives are unresponsive, and wait times are long, according to 90% of users who reviewed this aspect.
  • Cost-Effective: 100% of users reviewing pricing found the software expensive.
  • Operating System: 90% of users reporting this element experienced frequent software crashes, outages and system bugs.

Key Features

  • Online Services: Manage and deliver services online for an enhanced customer experience. Organize virtual fitness classes, interact with clients using an AI receptionist, manage appointments, process digital payments and connect with members around the globe. Allow clients to schedule courses, access the content library, accept offers, drop reviews and more. 
  • Client Profiles: Automate and personalize services by managing individual profiles for staff members based on availability. Set the upper limit to the number of clients able to enroll in a given class, create automated waitlists, track remaining courses and allow online scheduling and payments. Access the client history, including past classes, membership status, signed contracts, waivers, invoices, due bills and more using the customer management tools. 
  • Payment Tools: Fast-track payments using multiple transaction options and seamless integration with third-party channels. Simplify the checkout process using software tools like the credit card magnetic reader, electronic cash drawer, barcode labels, thermal receipt printer and more. 
  • Mobile Application: Create a personalized mobile app to increase your brand exposure and broaden the customer experience. Boost client retention, engagement and spending and allow customers to book, schedule and access services directly from the phone. Send push notifications for deals and events announcements, cancellation notices and manage business operations on a single screen. 
  • Automated Customer Marketing: Send automatic emails and texts, create smart contact lists to deliver tailored messages and personalize marketing campaigns. Share announcements, request reviews, offer rewards, take feedback and run insightful reports to boost customer loyalty and retention. 
Lightspeed
Lightspeed
Start Price
$69
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Lightspeed

Lightspeed POS, a cloud-based solution catering to retail, hospitality, and service industries, garners mixed reviews from users. While lauded for its user-friendly interface, robust features, omnichannel capabilities, and seamless integrations, some find its pricing complex, offline functionality limited, and specific functionalities lacking.

Strengths that shine: Users consistently praise Lightspeed's intuitive interface, making it easy for both tech-savvy and less-experienced individuals to navigate. The vast feature set, encompassing inventory management, reporting, customer relationship management, and employee tools, caters to diverse business needs. Integrations with popular software like QuickBooks and Shopify streamline operations and data exchange. Notably, Lightspeed excels in omnichannel management, allowing businesses to manage online and physical stores seamlessly, a crucial strength in today's retail landscape.

Weaknesses to consider: The pricing structure, with tiered plans and additional fees for features like offline functionality, can be confusing for some users. The lack of true offline functionality can be a dealbreaker for businesses with unreliable internet or operating in remote areas. While the feature set is comprehensive, some users report limitations in specific areas like advanced inventory management, which might necessitate workarounds or third-party integrations.

Standing out from the crowd: Compared to competitors like Square POS and Shopify POS, Lightspeed offers a wider range of features and caters to more complex business needs. However, these strengths come at a higher price point. Ultimately, the choice between Lightspeed and its competitors boils down to individual business requirements and budget constraints.

In conclusion, Lightspeed POS is a feature-rich solution with a user-friendly interface, but its pricing structure and lack of true offline functionality can be drawbacks. If you prioritize omnichannel capabilities, extensive integrations, and a robust feature set, Lightspeed is worth considering. However, carefully evaluate your needs and budget against potential limitations before making a decision.

Pros & Cons

  • User-Friendly Interface: Users consistently praise Lightspeed's intuitive interface, making it easy to navigate and perform tasks efficiently, even with limited technical experience.
  • Robust Features: Lightspeed offers an extensive suite of features, addressing various business needs, including inventory management, sales reporting, customer relationship management, employee management, and omnichannel capabilities.
  • Integrations: The system integrates seamlessly with a wide range of popular third-party software, such as accounting, marketing, and e-commerce platforms, streamlining workflows and data exchange.
  • Omnichannel Functionality: Lightspeed excels in managing both online and in-store sales channels effectively, providing a unified experience for customers and streamlining operations across multiple touchpoints.
  • Reporting and Analytics: Users appreciate the comprehensive reporting tools that offer insights into sales trends, customer behavior, inventory levels, and employee performance, enabling data-driven decision-making.
  • Customer Support: Lightspeed offers multiple support channels, including phone, email, and online resources, with generally helpful and knowledgeable agents, providing assistance when needed.
  • Pricing Structure: Some users find the tiered pricing plans and add-on fees confusing, making it difficult to calculate accurate costs upfront.
  • Limited Offline Functionality: Reliance on an internet connection can be problematic for businesses with unreliable internet or those operating in remote areas.
  • Inventory Management Issues: Some users have reported challenges with inventory tracking accuracy, slow syncing across multiple locations, and a lack of advanced inventory features.
  • Customer Support Wait Times: While generally helpful, customer support can experience longer wait times during peak periods, leading to potential delays in resolving issues.
  • Steeper Learning Curve: The extensive feature set can be overwhelming for less tech-savvy users, requiring a greater investment in training and onboarding.
  • Customization Limitations: Adapting the system to highly specific workflows or unique business models can be challenging without extensive workarounds or third-party integrations.

Key Features

  • E-Commerce: Set up an online store with customizable, mobile-friendly templates and built-in SEO tools. Sync inventories across all physical locations, purchase stock from the Lightspeed Supplier Market and sell units from a unified dashboard. Manage in-store appointments and Google local inventory ads from the POS system. 
  • Payment Processing: Complete sales with simple pricing, no hidden fees, a fast and secure checkout experience, and built-in PCI compliance and fraud detection. Process transactions with EMV-compatible terminals and accept all payment methods. Receive a dedicated expert’s assistance on dispute management and chargeback issues. Available only in the U.S; external integrations are required for payment processing in Canada, Australia and the U.K. 
  • Loyalty: Offer a point-based loyalty program with flexible reward tiers to incentivize customer loyalty and boost retention. Manage both in-store and online promotions and coupons while providing one-time special offers on birthdays or to VIP shoppers. Boost custom marketing campaigns with seasonal promotions and auto-segment customers based on their purchasing habits. 
  • Analytics: Drill down on critical areas with customizable reports and monitor sales, inventory and employee performance to make growth-oriented decisions. With Analytics Core, pay only for the expert-crafted reports required for business instead of the whole suite of report templates. 
  • Lightspeed Accounting: This integration creates a link between a store’s POS and accounting systems. Record business finances with automatic bookkeeping and receive daily sales receipts, profit and loss statements and more. 
  • Hardware: Choose from various hardware bundles for businesses or acquire single items, including zebra label printers, USB or Bluetooth bar scanners, Verifone P400 PIN pads, TM-m30 receipt printers and more. Design branded gift cards for the store and ship them to customers’ doorsteps. 
  • Restaurant Point of Sale: Offers industry-specific POS system for restaurants. 
    • Delivery: Syncs menu with major delivery apps like UberEats, SkipTheDishes or DoorDash to scale business and reach more customers. Receive delivery orders, promote high-margin dishes, create delivery-only menus and more. 
    • Order Ahead: Provide customers with the flexibility to order ahead for takeout, curbside pickup and appointments. They can add custom notes, table and room number requested, whether utensils are required and more details. Keep customers in the loop with real-time SMS notifications. 
    • Self Order Menus: Let customers send their orders via an interactive digital menu directly to the kitchen, bypassing the need for waiters and servers. Realign employees to focus on faster cooking, increasing order accuracy and improving customer service. 
    • Kitchen Display System: Displays a detailed view of every order, including turnaround time and images, color codes orders according to assigned chefs, and sends alerts for pending orders. Have online orders directly go to the display board after submission for faster preparation. 
    • Customer Facing Display: Exhibit the total breakdown of customers’ orders, subtotal cost, tax percentage, tips paid and total price on a display screen. Customize the screen with business logo and brand colors while advertising high-margin dishes or the item-of-the-day. 
    • Enterprise: Run multiple restaurants located in different places with a cloud-based POS system. Monitor each location’s sales, employee and promotional data while centralizing customer data from numerous areas. Customize and scale as needed with an open API interface. 
  • Golf Course Management: Caters to businesses that operate golf courses. 
    • Tee Sheets: Personalize tee sheets according to the facility’s structure. Manage golf courses from nine to 54 holes. Accommodate any play type, including shotguns, crossovers, front or back nines and more. 
    • Booking Management: Players can register for tournaments and pick their tee times. Organize monthly or yearly leagues, track attendees and review metrics from the dashboard. 
    • Membership Management: Create unlimited types of memberships, customize booking restrictions and pricing structures per type, and automate the billing process. 
    • Professional Website: Increase online presence, showcase facilities, attract more golfers and provide flexible payment options through a personalized website and mobile application. Design websites with preset templates or customize them with source coding. The vendor takes charge of website maintenance. 
  • Integrations: Leverage various integrations for assistance in accounting, analytics, CRM, marketing, payment processing (In the U.K, Canada and Australia), ERP, invoicing and more. 
Square POS
Square POS
Start Price
$29
Monthly, Freemium
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked Square POS

Square POS shines for its ease of use and affordability for small businesses, especially those starting out. Users praise its intuitive interface, seamless setup, and mobile accessibility, making it a breeze to ring up customers and manage basic sales. It also integrates well with popular tools like email marketing and accounting software, offering a centralized platform for managing various aspects of their business. However, Square's appeal wanes as businesses grow. Users lament its limited reporting and inventory management features, lacking the depth and customization offered by competitors like Shopify POS or Clover. Square's higher transaction fees for larger volumes also become a drawback compared to options like Stripe, which offer lower rates based on monthly transaction volume. Furthermore, Square's customer support receives mixed reviews. While some appreciate its responsiveness, others face frustrating wait times and limited communication channels, especially compared to the dedicated phone and live chat support offered by competitors. Overall, Square POS is a strong contender for solopreneurs and micro-businesses seeking a user-friendly and affordable POS solution. However, its limitations become apparent as businesses scale, pushing them towards more robust and feature-rich platforms. The choice ultimately boils down to prioritizing ease of use and affordability in the early stages versus scalability and advanced features as a business grows.

Pros & Cons

  • User-Friendly: 96% of users who reviewed this element said the software is flexible and mobile with a clean user interface.
  • Economical: According to 70% of users who mentioned this aspect, the pricing is fair and competitive.
  • Card Payments: 80% of users who reviewed payments said the platform is useful for processing cashless transactions with cards and sending invoices.
  • Invoicing: Regarding this feature, 95% of users said it’s easy to create, add and send invoices to clients.
  • Costly for high-volume transactions: The per-transaction fees become significant as your business grows, pushing Square beyond cost-effective for many merchants.
  • Limited reporting and inventory: Users find Square's reports lack depth and flexibility, making detailed sales analysis and inventory management challenging.
  • Unreliable customer support: Users report difficulty reaching support, long wait times, and frustrating email-only communication, leaving them feeling helpless when issues arise.
  • Account holddowns and closures: Square's automated fraud detection can lead to sudden account freezes and closures, causing business disruptions and difficulties resolving the issue.
  • Clunky hardware: Some users find the Square hardware, particularly the chip reader, clunky and frustrating to use, impacting checkout workflow and customer experience.

Key Features

  • Intuitive Register Interface: Easy-to-use touch-screen interface with customizable menu items, modifiers, and employee permissions.
  • Payment Processing: Accept all major credit cards, debit cards, contactless payments, gift cards, and cash.
  • Inventory Management: Track stock levels, set low-stock alerts, and generate purchase orders.
  • Employee Management: Track employee hours, create schedules, and manage payroll.
  • Customer Relationship Management (CRM): Store customer information, track purchase history, and send targeted marketing campaigns.
  • Sales Reporting: Generate reports on sales, inventory, employee performance, and customer behavior.
  • Mobile App: Access Square POS from your smartphone or tablet to process payments, manage inventory, and view reports on the go.
  • Online Ordering: Allow customers to order and pay online for pickup or delivery.
  • Loyalty Program: Reward customers for repeat business with points, discounts, and special offers.
  • Gift Cards: Sell physical and digital gift cards to boost sales and customer loyalty.
  • Integrations: Connect Square POS with other business tools, such as accounting software, payroll providers, and email marketing platforms.
ShopKeep
ShopKeep
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Key Features

  • Full-Service E-Commerce: Drive revenue generation with a robust online marketplace. Use powerful inventory management tools to oversee crucial business aspects, including shipping, marketing, supply, delivery, sales, appointments and loyalty programs. Get notifications for online orders and stock refills, send confirmation and reminder emails and improve customer service with detailed reports. 
  • Analytics and Reporting: Make data-driven business decisions using analytical tools that provide insights into key performance metrics like stock volumes, inventory sales, customer experience, staff activity, user trends and more. 
  • Loyalty and Rewards: Offer an integrated rewards program to increase customer retention and drive business growth. Create automated campaigns via SMS, send coupons and one-time deals, create marketing campaigns, track customer spending, design promotions and enroll new customers. 
  • Accounting and Finances: Manage finances and business processes with an integrated, cloud-based solution. Sync sales data from the POS to the store’s accounting system to receive an automated sales summary, manage multiple accounts from a single platform, track revenue streams across locations and analyze profit and losses for an error-free accounting experience. 
  • Seamless Integrations: Run the business at maximum capacity by integrating the POS with third-party applications. Streamline inventory, track profits, automate purchase and collaborate teamwork to systemize workflow. 
SpotOn
SpotOn
Start Price
$25
Per Station, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked SpotOn

SpotOn scores high marks for user-friendliness, adaptability, and customer insights, often outshining larger competitors like Clover with its intuitive interface and customizable features. For restaurants, its table management shines, while retailers appreciate the inventory control tools. However, the pricing structure can be confusing, with hidden fees and add-ons that inflate the initial quote. Offline functionality struggles during internet outages, which can be a dealbreaker for some businesses. While SpotOn boasts extensive integrations, some users encounter glitches and connectivity issues, disrupting workflows. Customer support also receives mixed reviews, with some praising prompt assistance and others facing long wait times and inconsistent resolutions. Compared to Square, SpotOn offers more features but lacks its sleek simplicity and ease of use for solopreneurs. Overall, SpotOn is a powerful POS that shines for its adaptability and industry-specific strengths. However, potential users should be prepared for pricing complexities, potential internet hiccups, and occasional integration troubles. If you value user-friendliness, intuitive features, and deep customer insights, SpotOn deserves a closer look, but if transparency and consistent performance are top priorities, other options might be a better fit.

Pros & Cons

  • User-Friendly: The system is easy to set up and navigate, 90% of users said about this element.
  • Customer Support: 100% of users who reviewed the support said it’s informative and company representatives are knowledgeable.
  • Integration: About 70% of users who mentioned this feature said the product offers effortless and smooth integrations.
  • Reporting: Approximately 90% of users who talked about this aspect said it's extensive and insightful.
  • Menu Management: Items are easily changeable and update instantly, said 95% of users about the menu.
  • Pricing Complexity: SpotOn's pricing structure can be confusing, with multiple plans, add-ons, and varying fees depending on industry and features. Users report difficulty getting clear quotes and unexpected charges.
  • Limited Offline Functionality: While cloud-based, SpotOn struggles during internet outages. Some features become completely unavailable, impacting critical operations like order processing and payment acceptance.
  • Customer Support Inconsistencies: User experiences with customer support are mixed. Some praise quick and helpful responses, while others encounter long wait times, technical issues, and inconsistent resolutions.
  • Integration Glitches: While offering many integrations, users report occasional bugs and connectivity problems with third-party tools, disrupting workflows and requiring time-consuming troubleshooting.
  • Interface Learning Curve: While generally user-friendly, some advanced features, particularly in industry-specific plans, have a steeper learning curve, requiring additional training for staff.

Key Features

  • Centralized Workspace: Organize workflows and accelerate revenue growth with efficient customer service tools. Add employee profiles, view customer contact information, access sales reports, send invoices, manage inventory, monitor employee activity, process payments and more using Register. 
  • Online Customer Service: Create a centralized customer service platform on a single dashboard. Manage employee schedules, send automated reminders, offer loyalty rewards and process checkouts with a digital user interface. Benefit from two-way texting with clients, integrated payment options and digital marketing tools. 
  • Intuitive Reporting: Provide intelligible insights into key KPIs with real-time, intuitive reports. Get easy-to-understand, cloud-based reports based on business data on a consolidated dashboard, accessible on the desktop and mobile phone. 
  • Virtual Payments: Offer a secure and seamless transaction process with mobile-friendly, online payment options. Send invoices, set up billing plans, collect deposits, send digital receipts and more on a secure platform. 
  • Customer Marketing: Drive customer engagement using hands-on digital marketing tools. Create custom rewards, enroll customers during checkout, offer limited-time deals, create marketing campaigns, send promos on special occasions and improve advertising to boost customer retention. Track marketing performance with comprehensive reports on a consolidated dashboard. 
  • Interactive Reviews: Facilitate a robust communication system with dynamic interactive features. Monitor, manage and respond to online reviews through a personalized dashboard and receive real-time alerts for new reviews to understand customer sentiments and expectations. 
NCR Silver
NCR Silver
Start Price
$108
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request Pricing Request Demo

Why We Picked NCR Silver

NCR Silver, a POS software solution, has garnered a mixed bag of user reviews in the past year. While praised for its intuitive interface, ease of use, and robust reporting features, some users have expressed concerns regarding its pricing structure, limited customization options, and occasional glitches. On the positive side, many users appreciate NCR Silver's clean and user-friendly interface, making it easy for new staff to learn the ropes quickly. The software's reporting capabilities are also a hit, offering valuable insights into sales trends, inventory levels, and customer behavior. This data-driven approach helps businesses make informed decisions and optimize their operations. For instance, one user mentioned using NCR Silver's reporting to identify slow-selling items and adjust their ordering accordingly, leading to a significant reduction in waste. However, some users find the software's pricing to be on the higher end, especially for smaller businesses. Additionally, the customization options are perceived as limited compared to competitors, hindering businesses with unique workflows or branding needs. A recurring complaint dotyczy occasional bugs and glitches that can disrupt operations, although NCR has been working on addressing these issues through regular updates. Overall, NCR Silver seems to be a solid POS system for businesses seeking a user-friendly and data-rich solution. However, its pricing and limited customization might deter cost-conscious businesses or those with specific needs. Carefully weighing the strengths and weaknesses against your individual requirements is crucial before making a decision.

Pros & Cons

  • Intuitive Interface: Users often praise the easy-to-learn interface, with clear navigation and touchscreen compatibility.
  • Mobile Capabilities: Manage sales, inventory, and employee timecards remotely using the mobile app.
  • Flexible Payment Processing: Accept various payment methods, including EMV chip cards, contactless payments, and mobile wallets.
  • Robust Reporting: Generate detailed sales, inventory, and employee performance reports to track business insights.
  • Customer Management Tools: Build customer loyalty with features for tracking purchase history, creating targeted promotions, and managing gift cards.
  • Limited Customization Options: Users may find the system's customization capabilities for receipts, reports, and workflows restrictive compared to some competitors.
  • Potential Inventory Management Issues: Some reviews mention challenges with inventory tracking accuracy and stock syncing across multiple locations.
  • Technical Glitches: Occasional reports of software glitches, slow loading times, and hardware compatibility issues, though frequency may vary.
  • Customer Support Response Times: Mixed experiences with customer support, with some users reporting long wait times or difficulty reaching knowledgeable representatives.
  • Hidden Fees: Potential for unexpected fees for hardware, add-ons, or specific payment processing services, which can increase overall costs.

Key Features

  • Kitchen Management: Optimize kitchen operations and boost efficiency using table mapping, offline credits, menu management and more. Colour code and route orders, assign preparation time, attach receipts, monitor production status, forecast requirements and leverage integrations to enhance the overall experience. 
  • Online Ordering: Create a flexible and effective digital ordering system to deliver quick services. Allow guests to order for curbside pickups, in-house delivery and third-party delivery. Process contactless payments, offer customizable menus, integrate with delivery providers, send orders directly to the kitchen and more across multiple devices. 
  • Alerts: Prioritize important tasks and regulate operations based on real-time notifications. Get instant alerts about new orders, updates, payments, non-availability of items, customer reviews and other communications without delay. Resolve issues to ensure smooth workplace functioning. 
  • Marketing: Offer rewards, discounts, promos and discounts to boost customer retention. Analyze transaction data, interaction stats and customer buying patterns to create targeted campaigns and personalized deals. Send marketing messages via SMS, MMS and email. 
  • Online Payments: Use a fully integrated platform to process online payments, equipped with a branded user interface and compatible with any smartphone device. Allow guests to scan a QR code or click a link from a text message to pay and send electronic receipts via email upon receiving checks. 
Lightspeed Retail
Lightspeed Retail
Start Price
$69
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Lightspeed Retail

Lightspeed Retail garners mixed reviews from users, highlighting both its strengths and potential drawbacks. On the positive side, users consistently praise its intuitive interface, making it easy for both tech-savvy and less-experienced individuals to navigate. The extensive feature set, encompassing inventory management, reporting, customer management, and omnichannel capabilities, caters to diverse business needs. Integrations with popular software like QuickBooks and Shopify streamline operations and data exchange. Notably, Lightspeed excels in omnichannel management, allowing businesses to seamlessly manage online and physical stores, a crucial strength in today's retail landscape.

However, some find the pricing structure complex, with tiered plans and additional fees for features like offline functionality. The lack of true offline functionality can be a dealbreaker for businesses with unreliable internet or operating in remote areas. While the feature set is comprehensive, some users report limitations in specific areas like advanced inventory management, which might necessitate workarounds or third-party integrations.

Compared to competitors like Square POS and Shopify POS, Lightspeed offers a wider range of features and caters to more complex business needs. However, these strengths come at a higher price point. Ultimately, the choice between Lightspeed and its competitors boils down to individual business requirements and budget constraints. If you prioritize omnichannel capabilities, extensive integrations, and a robust feature set, Lightspeed is worth considering. However, carefully evaluate your needs and budget against potential limitations before making a decision.

Pros & Cons

  • Intuitive Interface: Users consistently praise Lightspeed Retail's user-friendly design, making it easy to navigate and perform tasks efficiently, even for those with limited technical experience.
  • Omnichannel Capabilities: Seamlessly manage online and physical stores, providing a unified customer experience and streamlining inventory and order management.
  • Robust Feature Set: Offers a wide range of features addressing diverse business needs, including inventory management, sales reporting, customer relationship management, and employee tools.
  • Integrations with popular software: Streamlines operations and data exchange by connecting with accounting, marketing, and e-commerce platforms like QuickBooks, Shopify, and Mailchimp.
  • Mobile Accessibility: Manage your business on the go with mobile apps for sales, inventory, and employee management, offering flexibility and convenience.
  • Complex Pricing Structure: Tiered plans and additional fees for features like offline functionality can be confusing and lead to higher-than-expected costs.
  • Limited Offline Functionality: Reliance on internet connectivity can be problematic for businesses with unreliable internet or operating in remote areas.
  • Missing Advanced Features: Some users report limitations in specific areas like advanced inventory management, requiring workarounds or third-party integrations.
  • Steeper Learning Curve for Complex Needs: While user-friendly overall, the extensive feature set can be overwhelming for those needing in-depth customization or specific functionalities.
  • Customer Support Wait Times: While generally helpful, customer support can experience longer wait times during peak periods, potentially delaying issue resolution.

Key Features

  • Omnichannel Sales: Sell seamlessly across physical stores, online platforms, and marketplaces.
  • Inventory Management: Track stock levels, automate reordering, manage multiple locations, and receive low-stock alerts.
  • Point of Sale: Process transactions quickly, accept various payment methods, and apply discounts and loyalty programs.
  • Customer Relationship Management (CRM): Track customer data, purchase history, preferences, and create personalized marketing campaigns.
  • Reporting and Analytics: Gain insights into sales trends, inventory levels, customer behavior, and employee performance.
  • Employee Management: Track time and attendance, assign tasks, manage schedules, and control permissions.
  • Integrations: Connect with accounting software (QuickBooks, Xero), ecommerce platforms (Shopify), marketing tools (Mailchimp), and payment processors.
  • Mobile Apps: Access POS, inventory, and reporting features on mobile devices.
  • Hardware Options: Choose from compatible terminals, barcode scanners, receipt printers, and cash drawers.
  • Cloud-Based: Access from anywhere with internet connectivity, automatic updates, and secure data storage.
  • Security: Protects customer data with PCI compliance and industry-standard security measures.
  • Customer Support: Offers phone, email, and online resources for assistance.
Shopify POS
Shopify POS
Start Price
$29
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Why We Picked Shopify POS

Shopify POS emerges from user reviews as a user-friendly and reliable option for basic POS needs. Its tight integration with the Shopify ecommerce platform syncs inventory and customer data seamlessly, saving time and streamlining operations. Users particularly appreciate the mobile app flexibility for pop-up shops and on-the-go sales, a feature lacking in some competitors like Square. However, Shopify POS's limited free tier and transaction fees for non-Shopify payments might deter smaller businesses. While praised for its ease of use, Shopify POS can feel restrictive for advanced features like gift cards and discounts, requiring more technical know-how compared to Square's intuitive setup. Additionally, while offering themes, Shopify's customization options might not satisfy businesses seeking a truly unique storefront aesthetic, especially when compared to Wix's design freedom. Overall, Shopify POS shines for its user-friendliness, ecommerce integration, and mobile flexibility. However, its pricing structure and learning curve for advanced features might push smaller businesses or those with specific industry needs towards competitors like Square or Wix. Ultimately, the choice depends on individual priorities and business size.

Pros & Cons

  • Simplified Inventory Management: Shopify POS automatically tracks inventory levels, reducing manual updates and preventing overselling. Users reported a 40% decrease in time spent on inventory reconciliation thanks to this feature.
  • Seamless Payment Processing: Accept a wide range of payment methods, including credit cards, debit cards, and popular digital wallets, for faster checkouts. This flexibility helps reduce abandoned carts and boosts customer satisfaction.
  • Mobile POS Flexibility: Manage your store from anywhere with the mobile app, ideal for pop-up shops or on-the-go sales. This allows for greater business agility and caters to diverse sales environments.
  • Valuable Sales Insights: Generate detailed reports on sales, product performance, and staff activity to make data-driven decisions. Users highlighted the ability to track individual staff performance as particularly helpful for sales training and staff motivation.
  • Easy Customer Management: Create customer profiles, track purchase history, and offer targeted promotions for improved customer loyalty. This personalization fosters stronger customer relationships and repeat business.
  • Limited Free Tier Options: Access to basic POS features requires at least the Basic Shopify plan, which may not be budget-friendly for small businesses with low transaction volume.
  • Transaction Fees for Non-Shopify Payments: Using third-party payment processors alongside Shopify POS incurs additional transaction fees, potentially outweighing the benefits for low-volume merchants.
  • Learning Curve for Advanced Features: While basic functionality is user-friendly, unlocking advanced features like gift cards or discounts can require extensive setup and troubleshooting, especially for non-technical users.
  • Limited Customization Options: While themes offer some customization, heavily branded businesses may find the Shopify interface lacks flexibility for achieving a truly unique storefront aesthetic.
  • Integration Challenges with Specific Industries: While Shopify integrates with many apps, businesses with specific needs like restaurants or salons may experience limitations or require additional paid integrations.

Key Features

  • Online Inventory: Sell products online from a scalable, fully-featured eCommerce website. Generate purchase orders, categorize products, adjust stocks, transfer inventory, accept returns, process exchanges and access updated information across stores instantly. 
  • Reporting: Use daily reports based on in-store and online business data on a single dashboard. Gain actionable insights into total orders, customer buying patterns, staff performance, inventory sales, returns, taxes, payments and more to make strategic decisions. 
  • Payments: Track credit and debit card payments, accept multiple payment types for a single transaction, sell gift cards, create custom payment options and integrate with third-party payment providers. 
  • Customizations: Responsive and customizable templates are available for the website with varied layouts, colors, fonts, content and more. 
  • Smooth Checkouts: Provide rebates, BOGO discounts, gift card redemption and other offers at the time of checkout using the smart grid that adapts to actions in the cart and avoids manual calculations. Add taxes, create discount codes, set prices and more for a quick checkout experience. 
  • Staff Management: Track staff performance, assign unique PINs, add new employees, attribute commissions, define job functions, send approvals and grant control permission with on-the-go labor management tools. 
  • Marketing: Boost customer retention and improve sales with robust marketing strategies. Use innovative collections to automatically sort products, start Google Ads campaigns, send customer-specific emails, offer exclusive promotions, optimize campaigns and more. 

COMPARE THE BEST Retail Management Software

Select up to 2 Products from the list below to compare

 
Product
Score
i
SelectHub’s Analyst Rating is based on data from our 400+ point analysis of Retail Management Software, user reviews, and our own crowd-sourced data from our free software selection platform. Scores are periodically updated via ongoing selection projects and user activity within our platform.
Start Price
Free Trial
Company Size
Deployment
Platform
Logo
Clover
$0.10
Per Transaction, 2.3% Flat Rate
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Clover
Toast
$69
Per Terminal, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Toast
Mindbody
$159
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Mindbody
Lightspeed
$69
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Lightspeed
Square POS
$29
Monthly, Freemium
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Square POS
ShopKeep
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
ShopKeep
SpotOn
$25
Per Station, Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
SpotOn
NCR Silver
$108
Monthly
No
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Cloud On-Premise
Mac Windows Linux Chromebook Android
NCR Silver
Lightspeed Retail
$69
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Lightspeed Retail
Shopify POS
$29
Monthly
Yes
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Cloud On-Premise
Mac Windows Linux Chromebook Android
Shopify POS

All Retail Management Software (45 found)

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Alberta POS

by Alberta Payments
Alberta POS
Alberta POS is a rising software tool that ranks 41 among all Retail Management Software according to our research analysts and 1 crowd-sourced review from 1 source. Alberta POS is most advisable for enterprise-level businesses. Alberta POS can be deployed online and on-premise and is accessible from a limited number of platforms including Windows devices. Similar alternatives to Alberta POS include Pulse Commerce, PawnMaster and Aptos Retail.
User Sentiment User satisfaction level icon: poor
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Demo Pricing

Proximis

by Proximis
Proximis
Proximis is an up-and-coming software application that ranks 42 among all Retail Management Software according to our research analysts. Starting from $1200, Proximis is priced moderately and is most advisable for small-to-mid-sized companies. Proximis can be deployed online. Similar alternatives to Proximis include Pulse Commerce, MyPOS Connect and CORESense.
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Leafio

by Leafio Inc.
Leafio
Leafio is an up-and-coming software application that ranks 345 among all Supply Chain Management Software according to our research analysts. Leafio can be deployed online. Similar alternatives to Leafio include Moduurn, WaerLinx and Pallet Connect.
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

MyPOS Connect

by Tri-City Retail Systems
MyPOS Connect
MyPOS Connect is a rising software application that ranks 59 among all Retail POS Systems according to our research analysts and 41 crowd-sourced reviews from 1 source. MyPOS Connect is most advisable for companies on the small or medium side. MyPOS Connect can be deployed in the cloud and on-premise and is accessible from a few platforms including Windows devices. Similar alternatives to MyPOS Connect include Plexis POS, RB Control Systems and Magestore.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Pulse Commerce

by Sovrn
Pulse Commerce
Pulse Commerce is a rising platform that ranks 45 among all Retail Management Software according to our research analysts and 11 crowd-sourced reviews from 1 source. Pulse Commerce is most advisable for any sized business. Pulse Commerce can be deployed in the cloud and is accessible from a limited amount of platforms including Windows devices. Similar alternatives to Pulse Commerce include MyPOS Connect, Alberta POS and CORESense.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
Request with no obligation:
Demo Pricing

Buyer's Guide

Retail Management Software is All About Simplifying Business Management 

By Ishani Vats, Market Analyst at SelectHub

Retail Management Software BG Intro Header

With a rise in eCommerce, customer demand, intense competition and soaring performance benchmarks, retail management software is the solution of the hour to maximize business potential with reduced costs and manual labor. It meets modern tech requirements by effectively carrying out business operations, organizing key processes and enhancing the customer experience. Users can manage retail functions like inventory, logistics, accounting, marketing, eCommerce, payments, workforce management and business analytics.

Run your store effectively with time-saving automation and user-friendly inventory management tools. Performance-enhancing employee management tools enable consistent team collaboration and real-time reporting tools offer comprehensive insights into business performance. Enable customers to process checkouts, shop online, give feedback and make the most of your services. Complete daily retail store activities with software that facilitates top-notch business performance and maximizes productivity.

Executive Summary

  • The ideal retail management software provides inventory management, in-depth reporting, labor management, business marketing tools, hardware solutions, accounting solutions and more.
  • It manages multi-channel operations on a single platform, improves business performance using reports and insights, supervises workplace activities, oversees sales and uses online functionalities to perform tasks in a timely and cost-effective manner.
  • Install the software on your computer or host it on the vendor’s server. Cloud-based deployment is more effective than on-premise software.
  • Strategic marketing strategies are crucial in boosting customer influx and increasing business revenue. Real-time insights into customers’ behavior and buying patterns, loyalty programs, brand campaigns and rewards help improve loyalty.
  • It’s vital to have a clear understanding of your business needs such as total budget, the scope of future scalability, hardware and software requirements, industry-specific usages and must-have functionalities before buying retail management software.
  • An ideal management software offers an enhanced understanding of customers, products and services to boost sales and provide an exceptional shopping experience.

What This Guide Covers:

What is Retail Management Software?

Retail Management Software offers robust tools and time-saving features to alleviate user experience and improve business management. It’s used by supermarkets, departmental stores, boutiques, flea markets, shopping outlets, discount stores, eCommerce websites, pharmacies and bookstores. The solution delivers a combination of functionalities, including inventory management, customer relationship management, logistics management, data insights, reports, workforce regulation, POS, software and hardware solutions and more. Technology-backed services and intelligent integrations offer a dynamic business management platform to manage merchandise, process payments, process invoices, offer rewards, create campaigns, organize tasks, supervise employees, regulate communications and oversee crucial aspects of workplace functioning.

Retail Management Software Categories

A consolidated dashboard offers a quick overview of vital business aspects such as sales trends, top-performing products, employee performance, daily profits, customer buying patterns and more. Promote customer loyalty with the help of marketing campaigns and materialize business goals with strategic branding tools. Loyalty programs, product promotions, reward points, discount coupons and personalized offers attract customers to make more purchases and help business growth. Multiple payment options such as barcodes, store credits, gift cards, Google Pay and more facilitate faster checkouts and enable contactless transactions. Automate store operations such as accounting, auditing, billing and invoicing, payroll processing, pricing and more with minimal human intervention and get quick visibility into inventory trends, financial transactions, employee performance, marketing campaigns and sales volumes using real-time data reports.

Deployment Methods

  • The most common type is cloud-based deployment, where the software is hosted on the vendor's server and accessed via a web browser.

There are four deployment models for cloud-based software:

  • Public: A pay-per-use service available to the public, the provider offers services via the internet and stores the data on third-party servers. It demands zero infrastructure management and is suitable for minimal security concerns.
  • Private: The server is hosted externally or on the owner company’s servers. Data is managed privately with customizable infrastructure options. It offers solid security and privacy standards. And it only supports connectivity over the private network.
  • Community: It’s similar to the private cloud model, except that several organizations use the infrastructure.
  • Hybrid: Deployed by combining various features of different deployment models like on-premise, private cloud and public cloud.

Benefits

Benefits of Retail Management Software

The ideal software provides an end-to-end solution to cover the store’s operations. Listed below are some of the capabilities the right software needs to deliver a top-notch performance.

Simplifies Operations

It delivers a coherent platform to manage inventory using robust functionalities like order tracking, stock updates, returns, replacement and more. Add and track inventory, prevent low availability of items, avoid surplus stocking and effectively organize inventory-related store activities.

Accurate Financial Management

It offers a secure accounting system to streamline transactions and payments, reduce miscalculations, avoid debt accumulation and solve other financial errors. A robust retail management software records daily transactions, sales calculations, computes profits and oversees crucial finance-related activities to ascertain error-free money management.

Boosts Customer Retention

The software provides quick access to customer information to study buying patterns and customer behavior to devise effective marketing, advertising, promotions, discounts, rewards and campaigns. It boosts customer retention and expands the business with strategic planning and organized implementation.

Saves Time and Money

Cut down on manual activities by organizing and automating regular store operations and simplifying the management process. Instant notifications, stock alerts, team communication channels, real-time sales tracking and performance reports relay real-time information to enable time-bound decision making. Tech-oriented tools replace manual management methods to perform vital tasks, including inventory auditing, sales forecasting, pricing regulation, reporting, payroll records, returns processing and more.

Alleviates Business Performance

Built-in statistics and reports give comprehensive insights into business activities and help gauge areas of improvement concerning overall performance. Real-time access to vital information, based on immediate feedback, assists in making crucial decisions.

Implementation Goals

Identifying your organization’s capabilities and goals makes it easier to create a blueprint for effective decision-making. In the route of selecting the right retail management software, you must first become familiar with the equipment that will ensure a benefitting outcome. Strategize a robust implementation plan by summarizing the result you need.

Goal 1

Organize Inventory

Effective inventory management is central to meeting customer demands and maintaining stock levels. A well-organized inventory ecosystem makes room for improved shopping experiences, greater profits and business growth. Retail management software organizes the inventory life cycle and manages critical tasks like product stocking, tracking, sorting, payment processing, restocking and other inventory-related activities with great accuracy. Performance reports are based on metrics, individual and aggregate sales, product-based sales, total profits and sales volume to improve decision-making and generate revenue.

Goal 2

Increase Customer Retention

Refining customer relationships is essential to advance the business, enhance sales and boost revenue. Your business needs a solution that attracts new customers and improves satisfaction among current users with appealing branding and marketing strategies. Software studies customer behavior’s critical aspects and offers robust marketing tools to attract new clients and retain existing ones.

Goal 3

Improve Workplace Efficiency

With regular access to employee activity and team communication, you can maintain a balanced and productive workflow. The software can track time, assign job functions, record time offs, send messages and more to enhance workplace collaboration effectively.

Goal 4

Alleviate Sales and Profits

A deep dive into company stats and key performance metrics outlines the areas of improvement and navigates the retail market better. Retail management software provides salient reports and up-to-date figures based on real-time company data and analytics needed to optimize business practices and eventually boost sales and profits in the long run.

Goal 5

Manage Finances Securely

Security shortfalls, privacy breaches and data leaks can prove to be a nightmare for your business. Besides, financial aspects like budgeting, profit and loss accounts, resource allocation and cash flow management need tactical planning. That’s why retail management software offers intuitive tools to control and organize error-free cash flow securely.

Key Features & Functionality

Inventory Management

Keep track of product sales, look up stocks, sort and organize items based on categories, send product recommendations, print labels, generate invoices, add descriptions and images and optimize the inventory management process.

Refill items that are running low on stocks and sort products based on color, size, style, type and price. Manage products across stores, assign barcodes to products, assign serial numbers, handle warranty and expiry dates and automate critical processes to reduce manual efforts. Pull up daily buying reports of purchasable products based on inventory control levels automatically adjust restocked inventory. Use inventory control to reduce shipping costs with proper planning and management of the purchasing process to avoid last-minute shipments at higher rates.
Data and Reporting

Access information-driven, customizable reports and insights based on real-time company data to understand business performance better and make strategic decisions. Easily digestible reports offer a comprehensive understanding of top-selling items, consumer behavior, finance and accounting, most and least profitable items, sales trends, trend analysis, profit and loss, inventory valuations and other aspects integral to the business by simplifying complex data into compact summaries.
Customer Relationship Management

Study buying patterns, analyze customer psychology, purchasing decisions, study feedback, understand responses and assess objectives to improve existing customer relationships and attract new and prospective customers.

62% of customers prefer offers or personalized discounts based on past purchases. Create individual customer profiles to track which products they prefer, total spending, mode of payment, product preferences, create loyalty programs, offer rewards, create personalized coupons, send recommendations and more based on such data. Tailor effective targeted marketing strategies and build campaigns to expand your customer base.
POS

According to Retail Consulting Partner, 54% of businesses have used mobile POS to process transactions.

An equipped POS system built for your back and front office operations processes transactions at the time of checkout and ensures that payments are processed securely with reduced labor costs. It includes hardware like cash counters, tablets, barcode scanners and registers that help calculate the payable amount. Self-service kiosks are effective POS solutions for customers to place orders and pay without staff assistance. Besides, employees are free to complete other tasks like floor management, stocking and upselling.

Customer-facing display, inventory management, promotions, employee reporting, product reports and split payments are some features offered by a robust POS system. In addition, a mobile POS system serves as a portable cash register and performs transactions on the go.
Employee Management

Manage your workforce to boost organizational efficiency and increase productivity with the help of dynamic tools and robust functionalities created to optimize the employee management process.

Track the total time worked, assign jobs, record holidays, create schedules, view job responsibilities, reward top-performing employees, gauge areas of improvement, organize personal information and oversee other aspects of labor management on a centralized platform.
Payments

Move from traditional payment methods to more recent, technology-backed options. Let customers pay with gift cards, store credit, Amex, mobile payment, Apple or Google Pay, discounts and more. Fast-track secure checkouts, save time and provide customer convenience.

Process transactions in different currencies, generate accurate invoices, maintain customer purchase data and initiate secure checkouts for a hassle-free experience.
Mobile Application

Mobile applications make it easy for customers to shop from different locations and get store-wide access on their phone screens. Improve purchase volumes, interact with customers, create discount coupons, process payments and allow users to take advantage of a readily accessible shopping channel.

Advanced Features & Functionality

E-Commerce Website

Ecommerce sales went up by 39% in the first quarter of 2021.

An eCommerce website enhances the online presence of your business and caters to the emerging demand for online channels of sale and purchase. It facilitates the online sale of products and services, including managing products in the store, processing transactions, making payments, collecting feedback, creating promotional strategies and more. These functionalities simplify the shopping experience and save time for customers and retailers.
Accounting

Perform error-free calculations automatically to save time and labor costs. A retail management software ensures financial transparency by providing sales forecasts, profits and loss statements, investment totals, revenue stats and performs essential accounting tasks with improved accuracy. Reduce bookkeeping expenses, import transaction data, create auditable records of purchases, document assets and liabilities and produce data-backed reports of company finances.
Mobile PoS

A mobile PoS is a portable device that serves as a cash register to process payments and complete transactions. The mPOS market size is expected to grow at a CAGR of over 18% from 2021 to 2027. It helps customers save time standing in long lines and reduce wait times using a handheld checkout station.

With an increased reliance on contactless payment methods, mPOS systems work best to process quick checkouts. They function across different locales and time zones and are more cost-effective than traditional POS systems.
Advanced Hardware

Hardware solutions like tablets, phones, mobile-based POS and laptops simplify key business operations and enable retailers to provide a complete online retail experience. It becomes easier to perform real-time inventory searches, process online orders and initiate mobile payments across locales. Efficient hardware devices include POS register screen, receipt printer, cash drawer, barcode scanner and pin display.

Upcoming Trends

Retail Management Software Upcoming Trends

E-Commerce and POS integration

With a remarkable shift from in-person to online shopping spurred by the global COVID-19 pandemic, there is an emerging need to combine the two modes and meet customer demands. With eCommerce and POS integration, businesses will combine online and offline operations such as payment processing, inventory management, loyalty programs, workforce regulation and more. Besides, it will provide greater flexibility, efficiency and enhance the user experience by facilitating a uniform system across in-store and online functioning.

Online Visibility of Stores

Several shoppers tend to research products online before visiting the store. In a global survey conducted by Google, 59% of shoppers said they research online to ensure they make the best choice. Providing accurate visibility of offline options on the website makes it easier for customers to make decisions from the comfort of their homes and reduces the risk of disappointment due to in-store unavailability. Integrating the POS and inventory management system with software enables you to display the in-store products online and simplifies the purchasing process for customers.

Virtual Customer Engagement

Fostering communication with customers with reduced physical interaction is challenging but more crucial than ever. Retailers connect and engage with customers using online channels to conduct consultations, webinars, community classes and workshops. Virtual engagement works best to ensure that your customer base remains intact despite in-person communication barriers.

Contactless Payments

The NFC market is expected to reach nearly $50 billion by 2024. Customers prefer self-checkouts, biometric cards, barcode scanning, mobile wallets, store credit and gift cards.

How to Begin a Software Comparison

Conduct adequate research about retail management software and the options available in the market before making a choice. The right software to meet your business goals varies based on the number of stores you’ll integrate, existing software, total budget and your IT infrastructure. Key features to consider are inventory management, data analytics and reporting, project management tools, customer relationship management, labor management, POS, eCommerce website and third-party integrations. Consider multiple payment options, hardware solutions, customer-facing display, shipping integration, automation and add-on capabilities before finalizing your selection.

Based on your business needs, a comparative analysis of available options helps you make the right decision. Moreover, it’s essential to consider the pricing against the listed features to ensure that you are not paying more for less. Keeping the aspect of productivity and peak business efficacy in mind, you can select the ideal software.

Cost & Pricing Considerations

When assessing your options, identifying key business requirements and prioritizing them is of utmost importance. The cost of ownership, IT infrastructure capabilities, industry-specific needs, deployment expenses, installation charges, up-gradation costs and other fees are crucial in determining your choice.

Listed below are some questions you must answer while analyzing the price of retail management software:

  • What do I need from retail management software?
  • What is the size of my business?
  • What is my total budget?
  • Can I increase my spending to include additional features?
  • What are my industry-specific needs?
  • How much will it cost me to scale the business?

The Best Solutions

When choosing the ideal retail management software for your business, it’s essential to identify the features and functionalities critical to your industry-specific requirements. A comparative study of various software available in the market would be necessary to shortlist a handful before making the final choice. Summarized below are the top five retail management software that provides practical business management solutions.

Lightspeed

Lightspeed is an eCommerce and point of sale software provider for global retail and hospitality industry services. It offers advanced functionalities such as inventory management, reporting and analytics, customer relationship management, contactless payments and an omnichannel eCommerce platform. The subscription-based software supports seamless integrations, hardware solutions, training resources and provides sophisticated customer service options.

Lightspeed

Customization tools with robust integrations improve business performance.

Erply

Erply is a cloud-based enterprise software that provides POS solutions to small and medium-sized retail businesses. It offers various eCommerce options, including multi-store management, analytics and reporting, inventory tracking, hardware solutions and workforce regulation on a centralized marketplace. You can manage company data in offline and online stores across different locales and devices. Besides, training tutorials, phone support, offline capabilities, security updates and dynamic integrations simplify and enhance business management.

Erply

Erply offers data-oriented, comprehensive reporting capabilities.

NCR Silver

NCR Silver is a cloud-based solution designed to provide software and hardware solutions to banks, restaurants, telecom companies and other retail businesses. It provides a POS system backed by powerful integrations and customer marketing tools and regular updates and live support options. The software offers enhanced employee training and onboarding, contactless payment options, advanced reporting and business intelligence tools that give detailed insights into day-to-day operations and a transparent payment processing model that facilitates secure checkouts.

NCR Silver

Automated Marketing Campaigns offered by NCR Silver help boost customer retention.

Shopify

Shopify is an eCommerce platform that provides retail solutions to businesses of all sizes. The product offers robust management features such as online inventory management, product tracking, payment processing, analytics and reporting and 24/7 customer support. A comprehensive dashboard provides a detailed view of your business aspects such as sales, orders, customers, inventory and more to build intelligent marketing strategies. The mobile application offers instant access to analytics, staff information, visitor traffic and more on your smartphone.

Shopify

Multiple payment options facilitate secure and quick checkouts and improve the shopping experience.

Square

Square is a mobile POS system that offers key functionalities for successful business management, including reports and analytics, marketing campaigns, inventory tracking, payment processing, eCommerce, loyalty programs, cash management and more. It offers robust integrations and custom pricing packages and supports multiple payment methods. Besides, the product also provides hardware solutions like the magnetic chip reader, credit card terminal, register kit, cash drawer, receipt printer and more.

Square

Record work hours and monitor employee activity with the help of personalized time-tracking tools.

Questions to Ask Yourself

Use these questions as a starting point for internal conversations:

Retail Management Software Questions To Ask

  • What is my total budget?
  • What are my hardware and software requirements?
  • How many stores do I need to integrate?
  • Which industry does my company serve?
  • What systems am I already using?
  • Do I have future scalability requirements?
  • Do I need a mobile application?
  • How many users will access my application?

Questions to Ask Vendors

Use these questions as a starting point for conversations with vendors:

About the Software

  • What retail channels does the software support?
  • Is the software scalable?
  • Does it offer POS hardware?
  • Does the system update automatically or do I have to do it manually?
  • Can the system be accessed remotely?
  • Does the system comply with PCI and EMV cards?
  • What kind of support do you offer?
  • Does it support comparative reports?
  • What is the license and fee structure?
  • Is the software user-friendly? How so?
  • Can I view the customer history of all stores from a single location?

About the Vendor

  • What are the pricing options available?
  • Do you offer 24/7 technical support?
  • Do you offer a demo of the software?
  • How often does your system back up?
  • Is your system scalable if we add new locations?
  • When did you provide the last update? What issues or missing capabilities did it address?
  • Do you offer any functionality to recover lost data?
  • Are there any support options available after office hours?

In Conclusion

An easily-customizable, cloud-based retail management software that runs both online and on mobile platforms is ideal for effective business management. While choosing from available options, it’s best to outline your business needs and fit them into the most competitive pricing structure. In addition, pay greater attention to features that add value to your business more than concentrating on the cheapest option. Remember, running a store to meet business goals requires a solution that maintains a balance between best practices in the short and long run.

About The Contributors

The following expert team members are responsible for creating, reviewing, and fact checking the accuracy of this content.

Ishani
By Ishani Vats
Technical Content Writer
Ishani is a Technical Content Writer at SelectHub who covers LMS, workforce management, telemedicine and POS. She holds a master’s degree in Journalism and is passionate about translating complex technical concepts into engaging and accessible content for readers. Along with keeping the professional spirit hydrated, she likes petting dogs, looking up random facts and listening to any Lumineers song on repeat.
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Mohit
Technical Research By Mohit Hariramani
Senior Analyst
Mohit has a degree and Master in Finance from Mumbai, India, his years of professional market research experience started in 2019. His expertise lies in categories such as Enterprise Resource Planning (ERP), Manufacturing, Inventory Management, Manufacturing Execution Systems (MES), Facility Management Software (FMS), POS Systems (Point of Sale) and more. Through his academic and professional background, he honed skills in attention to detail, navigating ambiguity, and analytical prowess, which uniquely equip him to manage and thrive in the dynamic landscape of these diverse categories. He's passionate about leveraging his knowledge and experience to contribute effectively to the assigned technology areas.
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Kankana
Technical Review By Kankana Kalita
Principal Analyst
A seasoned business and research analyst, Kankana Kalita specializes in ERP, CMMS, manufacturing, construction, supply chain, HRMS and CRM. Prior to joining SelectHub, she earned a Bachelor's degree in Computer Science and Engineering, an MBA in Operations and Marketing, and worked in email marketing and logistics.
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Dianna
Edited By Dianna Dragonetti
Content Editor
As an editor, Dianna Dragonetti leads a team of five writers in writing about a variety of software, with an emphasis on how these tools empower businesses. Categories include accounting, learning management systems, content management systems, supply chain management, and electronic data interchange.
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