Top 7 Best Retail POS Software Tools for SMEs in India in 2023
A small retail store in Bengaluru, India was facing several challenges in managing its inventory and sales. The store sold a variety of items such as groceries, household items, and personal care products, but the manual process of managing inventory and sales was becoming increasingly difficult and time-consuming. The store owner Rahul was looking for an automated system that could help streamline operations and improve their overall business efficiency.
He decided to implement the best POS software system that would help automate their sales and inventory management. However, with a vast number of retail systems to choose from, Rahul was confused and overwhelmed by the options on hand.
If you have been in the same situation as Rahul, this blog is for you. Let’s take a closer look at the top 7 best retail POS software tools for SMEs in India in 2023 and how they can help businesses like Rahul's (and yours) to achieve their goals.
Why is a POS necessary for your Business?
A POS or point-of-sale system is a technology solution that allows businesses to manage their sales, inventory, and customer data in real time. It is used primarily by retail businesses, restaurants and hospitality establishments to streamline their operations and improve the customer experience.
POS software systems have become so popular that the Global POS software market is anticipated to grow to a massive $42.49 Billion by 2027. Many top brands have been using POS and have found significant benefits for their business. Let us explore some of these benefits. 
Benefits of POS systems for your business
Streamlined inventory management:
The best POS system can help you manage your inventory in real-time. You can easily track stock levels, receive alerts when inventory is running low, and automate reordering.
Improved accuracy:
You can reduce the risk of errors that occur with manual data entry. The best POS systems can automatically capture sales data, reducing the chance of double entries or incorrect data entry.
Better sales tracking:
A POS system can provide you with real-time sales data, allowing you to track your sales performance and adjust your pricing and marketing strategies accordingly.
Increased efficiency:
Manual entry of transactions is prone to errors. With a POS system, transactions are automatically recorded via barcode scanning and calculated, reducing these risks.
Enhanced customer experience:
It helps you provide a better customer experience by processing transactions quickly and accurately. It also helps you track customer behavior, learn about their preferences, and improve customer satisfaction allowing you to provide personalized services.
Improved employee management:
The system can help you manage your employees more efficiently. It can track employee hours worked and sales performance, and even integrate with payroll systems.
Reporting and analytics:
A POS system can generate reports on sales, inventory and customer data, which can then be used to make informed business decisions. Analytics can help businesses understand customer behavior and preferences, allowing them to tailor their offerings to meet customer needs more effectively.
Integration with other systems:
A POS system can integrate with other systems, such as accounting software and CRM systems, allowing you to manage your entire business from a single platform.
A POS system can help you effectively streamline your operations, increase efficiency, and improve customer experience, leading to increased sales and profitability.
Factors to Consider when Choosing a POS Software
When choosing an online or offline POS software, businesses should consider several key factors to ensure that they select a system that meets their needs. Here are some important factors to consider:
Functionality:
The best POS software should have all the features and functions that your business needs, including inventory management, sales tracking, reporting and mobile payment integrations. Pick out the features most important for your business and ensure that the software you choose has these features.
Ease of use:
The software should be user-friendly and easy to navigate for your employees. It should be easy to set up and configure and not require extensive training.
ERP Integration:
Check if your POS software can offer the best integrations with other systems, such as accounting software or CRM systems. Integration can help you streamline your operations and reduce manual data entry.
Ecommerce Integration
Nowadays, no store is an island. Omnichannel is one of the best ways of improving customer experience and delivering higher sales from the same square footage of space. Check if the POS software is integrated with online channels and marketplaces.
Compatibility with hardware:
Make sure that your software is compatible with the hardware you already have or plan to purchase, such as barcode scanners, printers, and cash drawers.
Security:
POS systems should have robust security features to protect your business and customer data. Look for features such as data encryption, secure user authentication, and regular software updates.
Customer support:
Choose a vendor that offers good customer support, including phone and email support, online resources, and training materials.
Cost:
Check for the cost of the software, including upfront fees, ongoing fees, and additional costs for hardware or support. Make sure that the software fits within your budget and offers good value for money.
Scalability:
Your POS system should be scalable to meet the future goals of your business, such as expanding to new locations or an increased sales volume.
Top 7 Best POS Software for Businesses in India
We’re listing out the top 7 best POS software tools for businesses in India in 2023 that can help take your business to the next level:
- Ginesys POS
- Shopify POS
- Gofrugal Retail POS
- Square POS
- Korona POS
- Marg POS
- Torqus POS
Ginesys POS
Ginesys POS is a powerful point of sale software that offers an integrated omnichannel approach, making it the only POS in India with this feature. Ginesys POS software is pre-integrated with its retail ERP (Ginesys making accounting a breeze) It streamlines retail operations, improves customer experience and increases sales. Its POS software features include:
- Omni-channel integration
- Cloud POS and Mobile POS
- Inventory management
- Customer management
- Loyalty management
- Multi-store management
- Sales and purchase management
- Accounting and finance management
Ginesys POS is suitable for retailers of all sizes, particularly those with multiple stores. It is ideal for fashion, apparel, and lifestyle retail businesses. Ginesys POS is priced based on the size of the business and the number of stores. Its pricing options are flexible and can be customized according to the needs of the business.
Shopify POS
Shopify POS is one of the best cloud-based POS system that allows retailers to sell both online and offline. It offers a range of features including inventory management, customer management, and order management. Shopify POS also integrates with a variety of payment gateways, making it a flexible and convenient option. Its key features include:
- Inventory management
- Customer management
- Order management
- Payment gateway integration
- Reporting and analytics
- Marketing and SEO tools
- Multi-channel selling
Shopify Shopify POS is suitable for small and medium-sized retailers who want to sell both online and offline. It seamlessly integrates with the Shopify eCommerce platform. Its pricing plans start from Rs 2000 and go up to Rs 6000 per month.
Go Frugal Retail POS
Go Frugal Retail POS is a comprehensive retail management software that offers a broad range of features. The software is used by more than 25000 customers, spread across 60+ countries. Its key features are:
- Inventory management
- Customer management
- Order management
- Multi-store management
- Sales and purchase management
- Warehouse management
- Loyalty management
- Accounting and finance management
Go Frugal Retail POS is suitable for small and medium-sized retailers who want a holistic retail management software with a wide range of features. Its retail kits cost Rs 15,000 per year.
Square POS
It It is an easy-to-use, intuitive and simple POS, suitable for both Android and Apple users. They offer 24/7 customer support. Square POS is applicable to a wide range of industries including retail, food and beverages, beauty and wellness and even large businesses. Its key features include:
- Inventory Management
- Scheduling and wages for Employee management
- Payments on the go- MPOS
- Built in payments-Card reader and iPad POS
- Curated Customer information
Square POS has distinct and unique requirements. It also has plenty of third-party integrations and can be customised to meet your needs. It starts with a free plan and has premium options.
Korona POS
The Korona POS system serves all retail niches, including bookstores, event management, membership and ticketing businesses. It is one of the best POS software in India. It is built for both single shops and multi-location/franchise operations. It’s key features include:
- Inventory management
- In-depth reporting
- ABC analytics
- Order-level optimization
- Vendor relations
- Franchise management
- Online ticketing
- Accounting
- Promotions
It has varied pricing options. The core plan starts from $59 a month and can go up to $89 a month for the premium plan.
Marg POS
Marg POS has easy-to-generate invoices, can track inventories, manage reports and leverage MIS to file GST returns. They have a track record of more than 20 billion invoices processed per year along with more than 1 million businesses served worldwide. Almost 50% of Pharma and FMCG brands runs on Marg POS and ERP.Its key features are:
- Sales Analysis on Google Maps
- Auto Bank Reconciliation
- Barcode Management
- Expiry Management (for products)
- Data Security
- Auto Cloud Backup
It is priced higher compared to other POS systems in India. The basic plan starts at Rs 8991 in India and other South Asian Countries.
Torqus POS (Now Inresto)
Inresto POS is a complete restaurant POS system used by many popular food chains, pubs, cafes, cloud kitchens and luxury dining. It gives you the ability to serve customers at their tables, upsell and cross-sell products, improve kitchen efficiency, and gives you access to 30+ reports.Its key features include:
- Order Acceptance from different channels
- Kitchen Displays
- Serving of Orders for Waiters
- Payment Acceptance
- Advance Menu Management
It is an all-in-one restaurant management system which helps in reducing thefts and pilferages, gives alerts on cancelled bills and provides detailed reports on restaurant productivity. They have a customised pricing plans according to your needs and preferences.
Comparison of Top 7 POS Software
Here is a comparison table for top 7 POS software in India with its unique features, pricing and business suitability.
POS System | Unique Features | Pricing Options | Business Suitability |
Ginesys POS | Omnichannel Integration | Custom pricing based on business needs | Fashion and apparel retail stores, supermarkets and other inventory based businesses online and offline. |
Shopify POS | Seamless integration with Shopify eCommerce platform | Basic plan starts at Rs 2000 per month | Retail businesses, restaurants, and more |
Go Frugal POS | Multi-store management | Custom pricing based on business needs | Retail businesses, supermarkets and more |
Square POS | Mobile payments app with an effective POS system | Free plan and custom premium plans | Small businesses in various industries |
Korona POS | Online Ticketing, ABC analytics, Franchise Management | Starts at $59 per month per POS device | Built for single shops and multi-location operations
|
Marg POS | Sales analysis on Google Maps, Expiry management, Data Security | Starts at INR 8991 per year | Small and medium-sized retail businesses |
Torqus POS | Restaurant Management, Advance Menu Management | Custom pricing based on business needs | Restaurants and food service businesses |
The 7 top POS software in India listed here offers a range of features with distinct pricing and customization options suited for your needs. Select the best POS software in India from the list depending on your business requirement, industry, goals and your budget.
Enhance your Retail Operations with Ginesys
Looking for a powerful, easy-to-use POS system that can help you manage your retail business more efficiently? Look no further than Ginesys POS.
With advanced inventory management features, seamless integration with eCommerce platforms, and support for multiple locations and stores, Ginesys POS is the perfect solution for fashion and apparel retail, lifestyle stores and supermarkets.
Ginesys POS offers a range of other features designed to help you streamline your operations and improve your bottom line. This includes flexible promotions, E-Gift vouchers, real-time reporting and analytics, ERP integrations and support for multiple payment options.
With our Omnichannel Integration, you can sell products both online and offline, and manage your inventory and customer data from a single platform. Our Cloud POS offers flexibility and mobility, allowing you to manage your retail operations from anywhere, anytime. Our Desktop POS, on the other hand, offers stability and security, perfect for businesses that require a fixed setup.
Whether you're a small store or a large retail chain, Ginesys POS has the tools you need to take your business to the next level. Contact us today to learn more about our powerful POS system and find out how it can help you grow your business.
