Showing 1-20 of 100 products
Epos Now is a retail management system for small to mid-sized businesses. In addition to its Point of Sale module, the solution also offers integrated Inventory Management, Customer Management, and Retail Accounting, including general... Read more
Recent recommendations: 77 recommendations
ShopKeep By Lightspeed is an iPad and Android POS system for retail businesses, restaurants, bars, franchises and quick-serve businesses. The POS software offers a touch screen interface, when used on an iPad or Android tablet device,... Read more
Recent recommendations: 60 recommendations
KORONA provides point of sale software, inventory management, and CRM services for all types of retailers, such as convenience stores, liquor shops, and QSRs. The POS software also caters to museums, theme parks, and wineries with... Read more
Recent recommendations: 18 recommendations
CAP Retail Point of Sale is built to support retailers, including specialty businesses such as tobacco and vape shops, liquor, wine and beer stores, lawn and garden centers, hardware stores, convenience stores, groceries and markets. The... Read more
Recent recommendations: 12 recommendations
ACCEO Smart Vendor is a retail point of sale (POS) and inventory management system that helps small and midsize retailers to manage stocks and process customers’ orders. It serves a variety of single and multi-locations retailers... Read more
Recent recommendations: 4 recommendations
iVend Retail is a cloud-based, omnichannel retail management solution that helps businesses manage various aspects of a brick and mortar retail shop and e-commerce store. It covers from point-of-sale (POS) to back office to head office... Read more
Recent recommendations: 1 recommendations
Clover POS is an integrated point-of-sale (POS) system with custom hardware designed for several types of retailers. This POS system is available in both web-based and server-based deployment versions and offers countertop hardware... Read more
LS Retail is a retail management system consisting of point of sale (POS) and enterprise resource planning (ERP). Key features include inventory management, customer management, retail accounting, e-commerce, warehouse management and... Read more
Fattmerchant is a cloud-based retail solution suitable for businesses of all sizes across industries such as e-commerce, healthcare and retail. Key features of the solution include point of sale integration, mobile processing, online... Read more
PayPal is a digital payment platform that enables businesses and individuals to pay and accept payments through an online portal without revealing any financial details. The solution is suitable for businesses of all sizes. PayPal... Read more
Square Point of Sale is a mobile POS system available for iOS and Android devices. Key capabilities of the Square POS system include online payment processing, sales reports, inventory tracking, digital receipts, Square marketing campaigns,... Read more
PayPal Here is a mobile application that allows retailers and merchants to process transactions. The application uses a card reader device attached to a smartphone. This solution helps retailers and field sales staff to process transactions... Read more
uAccept’s MB3000 is a cloud-based point of sale (POS) solution that caters to small and midsize businesses across various industry verticals and helps them to manage their day-to-day operations and manage interactions with their... Read more
Square for Retail is a cloud-based point of sale (POS) and retail solution for all retailers. Key features include inventory management, customer relationship management, reporting and employee management. The solution comes with built-in... Read more
PHP POS is a hybrid point of sale (POS) solution that helps small and startup retail businesses across various industries to manage their day to day business operations, interact with customers and process financial transactions. PHP... Read more
Route4Me is a cloud-based fleet management solution designed for small, midsize and large businesses. Primary features include route planning and routing guides. It allows users to type-in or upload customer addresses and plan a route... Read more
Loyverse POS is a cloud-based, mobile point-of-sale solution aimed at small retail, restaurant and salon establishments. With this software, users can manage inventory, visualize sales analytics and manage customer relationships. Loyverse... Read more
SAP Business One is a modular and integrated enterprise resource planning (ERP) solution suitable for small and midsize size accounting, manufacturing, retail and distribution industries. Suitable for a wide array of verticals and... Read more
WooPOS is a cloud-based solution that helps small to midsize businesses in the retail industry manage inventory and streamline point-of-sale operations. The centralized platform enables users to record clients' contact information... Read more
NCR Silver is a great solution for c-stores seeking a cloud-based, mobile-friendly POS option. The system works on iOS devices and can track sales with marketing and social media. Best suited for independent store owners. Read more
Here's what we'll cover:
- What Is Convenience Store POS Software?
- Common Features of Convenience Store POS Software
- Expected Benefits
- What Type of Buyer Are You?
What Is Convenience Store POS Software?
Convenience store point-of-sale (POS) software is specialized software to help convenience store owners automate and track fluctuating fuel prices, offer customers an efficient checkout process, and streamline inventory management. In addition to core accounting functions, common features of convenience store POS software include gasoline price calculation, spoilage reporting, and UPC code cataloging.
The hallmark of a convenience store is quick transactions. Customers want to get in and get out. Inventory turns are quick, but many items are also perishable. Adding gasoline and diesel sales to the mix makes both the transaction size and the documentation complexity increase. Gasoline sales are regulated and price changes are a continuing challenge; prices must be set at the pumps, on signs and in point-of-sale (POS) software; calculating inventory costs is also problematic as different-priced deliveries are mixed in the same tanks.
Accounts payable, payroll and general ledger are the same for convenience stores and gas stations. Accounts receivable is generally limited to handling credit card charges and cash handling is a particular problem for both. Inventory is also a challenge for both because of the amount of inventory for convenience stores and pricing of fuel for gas stations. Customer relationship management plays a very limited role.
Common Features of Convenience Store POS Software
In addition to the core accounting functions, gas station and convenience store operators should evaluate the following functions to meet their unique requirements:
|Pool margin calculation||Gas stations need to calculate the pool margin and track costs and profitability of fuel sales. This process needs current tank levels, current pool margin, current inventory price and new delivery amount and price. It is updated with every delivery for each type of fuel sold.|
|Spoilage reporting||Convenience stores sell perishable goods; the “sell by” dates must be tracked, expired inventory must be collected and disposed of and the process properly documented.|
|Gasoline price calculation||Gas prices fluctuate frequently; the system must make certain the prices are correctly calculated and are within legal specifications.|
|UPC code catalog||Convenience stores carry small amounts of many items. Building an inventory from scratch could take weeks; a convenience store inventory software system must include a UPC code catalog with descriptions for common items to save time in building the inventory.|
|Bottle deposit tracking||Eleven states have beverage bottle restrictions; 22 have plans under consideration. The system needs to track deposits and bottle sales, and produce compliance reports.|
|Safe drops||The POS system must track safe drops. It must record drop amounts and compliance with drop policies by store employees. It should also track cash-in-drawer amounts and notify employees when cash drops are necessary.|
|House account tracking||Many gas station chains, large and small, provide services to corporate fleets. These are usually handled by house accounts, which need to be tracked separately and reported to the central office.|
|Employee auditing||Inventory shrinkage is a problem for convenience stores. An accurate and up-to-date employee audit, done frequently, is one tool to help curb the problem.|
|Compliance reporting||Gas stations are subject to compliance reporting. The same requirement applies to a lesser degree to convenience stores. The software should prepare all compliance reports.|
|Security system integration||Both convenience stores and gas stations benefit from an integration between the POS system and security systems, linking security recordings with transaction records.|
Convenience store POS software helps retailers reduce transaction time, manage inventory and prices and increase sales. It also helps them to reduce human errors and manage compliance issues that arise from frequent changes in gas prices by automating the pricing process.
Stores should be able to realize the following potential benefits from a convenience store POS software:
Efficient POS operations: One of the most sought-after functionalities of a POS solution is automating the burdensome manual checkout process for both retailers and customers. POS solutions allow retailers to facilitate digital wallets and credit card transactions. This reduces the customer wait time during billing, allows cashiers to process additional transactions and prevents human errors that can result from frequent fluctuations in prices. Retailers can spend their freed-up time to address customers issues, analyze their business’s performance and focus on more pressing store management issues.
Streamline inventory management: Convenience store POS software helps retailers to automate inventory management processes, such as receiving product delivery and updating inventory levels after sale. In addition, retailers can track the best-performing products and their inventory levels in real time to ensure that inventory levels are optimum round the clock. With real-time inventory updates, retailers can prevent spoilage by selling perishable products on a first-in, first-out (FIFO) basis.
Reduces overheads and increases margins: Convenience store POS solutions automate manual tasks, such as data entry, price updates, cash management and billing, which reduces human errors and enhances customer satisfaction. By reducing these manual efforts, retailers can focus on improving customer engagement, creating performance reports to identify problems areas and training their employees to serve customers in a better way.
Personalize customer interactions: With POS solutions, retailers are able to personalize customer interactions by creating a customer database, sending offers via emails and running promotional campaigns targeting customer retention. Moreover, advanced POS solutions send automated emails to customers on important events in their lives such as birthdays, anniversaries and festivals.
What Type of Buyer Are You?
Small Business POS buyers: Retailers with a limited number of stores typically look for simple POS solutions to manage inventory, contact customers and facilitate credit transactions. These solutions are usually bundled up with the CRM and accounting capabilities to manage the different requirements of small businesses. Retailers also look for reporting and dashboard functionalities to analyze business performance and take timely corrective decisions.
Enterprise buyers: The typical buyers of these solutions are large enterprises that aim to resolve specific business challenges and target to achieve definite business goals. Buyers in this category look for advanced marketing and database management capabilities because of their large customer base. Legal compliance plays a pivotal role in these organizations due to the regulatory restrictions on the prices of gas products, which should remain within the prescribed limit.
The retail market is flooded with numerous convenience store POS solutions. Retailers should list down the functionalities they want in a solution so that they can solve business challenges and improve their operations. They should be wary of opting for a solution that provides the maximum number of features and yet, doesn’t fulfill all their needs.