POS stands for point of sale, the physical or virtual location where customers pay for their purchases. It is a platform that businesses use to process and complete customer payments.
By itself, a POS system is a combination of hardware and software designed to facilitate and streamline the transaction process in a retail environment.
POS systems can run on tablets, mobile phones, or computers. The software uses the hardware to process and record transactions.
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In light of that, they have evolved from cash registers to more modern platforms that can also manage customer experience, promotional offers, and other operational processes.
Importance of POS systems to businesses in Kenya
Point of sale (POS) systems can benefit businesses in Kenya in many ways, including:
1. Faster transactions
POS systems can speed up the checkout process, improving the customer experience and increasing the number of transactions a business can process.
2. Improved inventory management
POS systems provide real-time stock monitoring, helping businesses track available items and identify what’s needed.
3. Better customer service
POS systems automate many functions, freeing up time for employees to focus on providing better customer service.
4. Detailed sales reports
POS systems automatically record sales, returns, and exchanges, allowing businesses to analyse sales patterns and make informed decisions.
5. Customised receipts
POS systems generate detailed receipts, including item descriptions, prices, and savings. Businesses can customise these receipts to promote social media channels, loyalty rewards programs, or return policies.
6. Improved financial management
POS systems offer detailed sales reports and analytics, assisting businesses in making profit-boosting decisions.
7. Increased sales
POS systems continuously update business insights by recording sales, returns, and exchanges in real-time.
With that said, some of the features that modern POS systems must have include a CRM (customer relationship management) tool to help businesses see what their customers bought and when, inventory management to track stock levels and automatically reorder products when they are low, and the ability to generate sales reports that highlight which items are selling quickly. They should also support omnichannel integration that allows for centrally managed pricing, promotion strategies, and team management.
Types of Point of Sale systems
There are four main types of POS systems: traditional, tablet-based, mobile, and cloud-based POS systems.
* Traditional POS systems store transactional data locally and often require proprietary hardware.
* Tablet-based POS systems run on tablet devices like iPads, offering portability and ease of use.
* Mobile POS systems operate on mobile devices, such as smartphones or small tablets, and are ideal for on-the-go transactions.
* Cloud-based POS systems store data in the cloud and can be accessed from various devices.
The type of POS system that’s best for your business depends on your needs, budget, and customer base.
The best POS systems and Cost Guide (2024)
When choosing a point of sale (POS) system for your business in Kenya, consider factors such as your business type, budget, and growth stage. Look at scalability (whether it can grow with your business as it expands), offline functionality (whether it can operate without a network connection), and cost.
POS system costs can vary widely, but generally, you can expect to spend anywhere from Ksh0 to Ksh20,000 per month, depending on the provider and your business needs. Although this is a broad range, most initial paid plans now cost between Ksh30,000 and Ksh55,000 for a full suite of POS hardware
Here are some of the top POS systems in Kenya as ranked by SoftwareSuggest, which offers verified and unbiased user reviews based on user ratings and feedback:
1. Olickhom POS
Olickhom POS is a leading point of sale company that offers the Olickhom POS and Shop Inventory Management System—a complete retail, shop, and supermarket POS solution in Kenya that operates fully online.
For some time, it has been a popular, affordable, and flexible option that’s good for small to medium-sized businesses. It has a mobile app that’s useful for pop-up shops, and it offers a range of features, including inventory management, sales reporting, and CRM, with the ability to print digital receipts instantly.
According to its website, the cost of using the POS is Ksh300/month after the free 30-day trial ends. You can visit www.olickhom.co.ke/inventory or call the customer care number 0714 387777 to learn more.
2. iOSoft Solutions
As a good choice for hospitality businesses, iOSoft Solutions offers flexible hardware and powerful integrations.
Its pricing is quote-based, making comparisons with other providers challenging.
Visit their website HERE to download the restaurant POS pricing document, or email them at [email protected] for more information.
3. SimbaPOS
SimbaPOS is an all-around easy-to-use POS system designed for the hospitality sector, offering employee management, customer relationship management, multiple sales channels, and detailed reporting.
It is a top choice for established restaurants with complex operations, costing about Ksh20,000 for installation. Payment and credit card processing fees typically include a percentage of each transaction plus a small fixed amount. You can contact 020 2067933 for more details.
4. Toast POS
Toast POS is a cloud-based restaurant point-of-sale (POS) and management system that can help restaurants improve operations, increase sales, and create a better guest experience. It includes features like online ordering and delivery, payroll and tips manager, inventory management, and more.
It offers a free software plan, affordable hardware, and a customizable interface starting at $69/month (about Ksh9,000), but additional devices cost extra.
5. Android POS Kenya
Android POS Kenya is a flexible and economical POS system that works with a variety of business models, including retail stores, ticketed arenas, restaurants, sports and entertainment venues, and more. It offers ID scanning, loss protection measures, and compatibility with high-risk payment processors.
The POS has everything you need to scale and succeed, from easy-to-use POS tools and eCommerce to advanced reporting.
For new customers, Android POS has a starter package for businesses that need only a couple of terminals. This package starts from about Ksh70,000, which includes a one-month subscription, site survey, training, setup, and support.
BT evaluated and reviewed five POS systems from major and smaller domestic companies available in the country. Collectively, these POS systems represent some of the most popular and well-known products of their kind.
With publicly available data backed by user reviews, we created a list of the top 5 POS systems in Kenya, ranked based on affordability and ease of use.
