6 POS Systems With The Best Inventory Management Software In 2022
The best POS inventory systems include Revel, Lightspeed, Square, Hike, Shopify, and Vend. Find out which is best for your business.
Beyond just processing payments, your point of sale system should also include business management features, including inventory management. In fact, inventory management is one of the most important components of a small business POS system, whether you’re in the retail or restaurant industry.
An inefficient POS inventory system can waste time and decrease your profits. With so many awesome and affordable point of sale inventory software systems to choose from, there’s really no excuse to stick with a system that doesn’t simplify and automate important inventory tasks like inventory counts, transfers, and reordering.
Read on to learn about POS systems with the best inventory management software.
Other Featured Options:
- Hike POS: Best for flexibility.
Read more below to learn why we chose these options.
Table of Contents
6 Best POS Systems With Inventory Management
For business owners looking for a POS system with inventory management, here are your best choices:
- Revel Systems: Best for quick-serve
- Lightspeed: Best all-around
- Shopify POS: Best for multichannel retail
- Square: Best free
- Vend: Best for in-person retail
- Hike: Best for flexibility
1. Revel: Best For Quick-Serve
Revel POS Systems
- Advanced inventory features
- Robust reporting
- Customizable for any industry
- Easy kiosk functionality
- Long-term contract
Revel Systems POS Inventory System Features
Suitable for any size business, this cloud-based POS can help even large, multilocation businesses manage their inventories.
- Matrices: Simple matrices to track and find products
- Mobile scanner: Scan inventory with your mobile device
- Multichannel inventory app: Monitor inventory levels across multiple stores remotely
- Inventory alerts: Including automatic low stock alerts
- Retail or restaurant inventory management: Includes raw ingredient tracking
- PO & vendor management: Create custom purchase orders & manage vendors
- Inventory reporting: Easily compare inventory & sales numbers across a selected timeframe
Revel iPad POS hardware is quote-based; however, you also have the option to source your hardware yourself.
Monthly Software Cost
Revel Systems pricing starts at $99/month per terminal, with a two-terminal minimum and three-year processing contract with Revel Advantage.
Revel offers in-house processing through Revel Advantage, with a flat rate of 2.49% + $0.15 for in-person transactions. Revel can also integrate with outside processors, but you will pay a higher monthly fee if you don’t use Revel Advantage.
Where Revel POS Inventory System Really Shines
Revel’s POS system with inventory management has all of the functions you would want in an easily digestible format. Though the POS is customizable enough to use for any industry, Revel is especially popular among quick-serve restaurants, thanks to its super-fast processing speed, features like multilocation ingredient management, and quick-serve hardware options such as digital menu boards and kiosk stands that can turn your iPad into a self-serve ordering device.
For retail, Revel offers a convenient style matrix for adding large amounts of inventory en masse with customizable category options for easy searches. For restaurants, it’s easy to check out ingredient levels and costs. Revel allows you to create purchase orders, including a convenient function where you can note if only a partial order arrives. As with some of the other systems, you can view inventory levels in real-time and set up alerts when products are running low — or you can have the system automatically order new stock. Revel also has an inventory app that turns your phone into a scanner.
2. Lightspeed: Best All-Around
Lightspeed Retail POS
- Niche solutions for restaurants & retail
- Robust inventory management
- Affordable monthly pricing
- Multichannel capabilities
- Limited offline mode
Lightspeed POS Inventory System Features
Lightspeed offers numerous inventory tools for businesses of any size:
- Simplified stock counts: View stock on hand and stock value at a glance
- Easy reordering: Order stock directly from the POS
- Real-time inventory management: Includes real-time deductions as items are sold and automatic replenishments when inventory is received
- Multichannel & multilocation: Manage inventories for in-person sales, online sales, and multiple locations
- Barcode creator: Print custom labels and barcodes for your inventory items
- Consolidation tools: Consolidate purchases, transfers, and orders into a single order
- Simplified price editing: Change prices in bulk
- Return management: Automatically remove returned items from inventory
- Google local inventory ads: Display your ads when local customers search for something you have in stock
- Inventory software integrations: Integrates with a multitude of third-party inventory software solutions
Easy inventory tracking with Lightspeed Retail.
Lightspeed Retail works on iPad or desktop PC, while Lightspeed Restaurant is iPad-only. Lightspeed’s hardware is quote-based, and you can also source it yourself.
Monthly Software Cost
Lightspeed Restaurant pricing starts at $39/month, while Lightspeed Retail starts at $69/month. These prices are for a single terminal and require an annual contract with Lightspeed Payments.
Lightspeed Payments is a fully integrated payment option with in-person transactions priced at 2.6% + $0.10. Lightspeed also integrates with several outside payment processors, but you’ll pay a higher monthly charge if you use a processor other than Lightspeed Payments.
Where Lightspeed POS Inventory System Really Shines
Lightspeed is one of the most consistent and stable POS inventory systems we’ve reviewed. The company offers terrific features for inventory and POS software that caters to both restaurants and retail businesses. On the retail side, loading bulk items is simple; they can be easily sorted into groups by color, size, material, season, or any other qualification. Getting more advanced, Lightspeed also makes it easy for items that require unique serial numbers (such as electronics) with the ability to create and track those products. If you need to bundle items to sell as a single SKU, Lightspeed also makes that process easy and calculates the cost automatically. As an added bonus, there are thousands of preloaded catalogs as well.
For restaurants, you can toggle stock levels on and off. When you switch the function on, you can see exactly how much of each ingredient you have on stock across multiple locations and set up automatic alerts when an item runs low. A unique ingredient management system allows you to individually create an ingredient and add it to an item, allowing it to be tracked.
3. Shopify POS: Best for Multichannel Retail
- Multichannel inventory features
- Month-to-month pricing
- Inventory forecasting tools
- Inventory software integrations
- Advanced inventory features require Shopify Pro add-on with Stocky app
- Can’t accept offline payments
Shopify POS Inventory System Features
Note that these Shopify inventory management features require the Shopify Pro ($89/month) add-on with the Stocky app that’s included on Pro accounts.
- Inventory counts & receiving: Scan in inventory with a barcode scanner and track changes
- Inventory analysis: Use the stock performance grading system to make reordering decisions
- Inventory transfers: Request transfers from other locations
- Low stock warnings: Receive alerts when you need more stock, based on sales and vendor lead time
- Detailed inventory reports: View inventory states and trends to plan for the future
- Purchase ordering: Create purchase orders for vendors and suppliers based on demand forecasting
- Multichannel inventory: Track and sync inventories across sales channels
- Sale suggestions: Receive prompts to sell slow-moving products to release cash from your inventory
- Product collections & variants: Categorize products with variants and smart collections
- Returns & exchanges: Automatically adjust inventory when items are returned or exchanged
While you can run Shopify POS with just a smartphone and a $49 Shopify Tap & Chip Card Reader, most businesses with a physical store will opt for a countertop POS bundle to use with an iPad or tablet. Shopify sells bundles and individual POS components; for example, on Shopify’s website, you can buy a mPOP™ combined receipt printer and cash drawer for $499 (iPad and card reader not included).
Monthly Software Cost
Shopify has various pricing tiers suited for different needs. However, if you want advanced inventory features, you will need to add to the $89/month Shopify Pro add-on to your Shopify plan. Shopify base plans start at $9/month for mobile POS without an online store (Shopify Lite plan), or $29/month for the Basic plan which includes a Shopify online store. This means the lowest monthly you might pay for an in-person Shopify store with inventory management is $91/month.
Shopify has integrated payment processing with Shopify Payments and can also integrate with outside payment processors. However, if you choose to use another payment processor, you’ll pay an additional transaction fee to do so. Shopify Payments flat-rate processing starts at 2.4% for in-person transactions but could be as high as 2.7% depending on your monthly plan.
Where Shopify POS Inventory System Really Shines
Shopify POS is especially useful for modern retailers that sell in-person and online, and want to sync their online and offline inventories for a multichannel shopping experience. Shopify lets your customers do things like place online orders at your POS in the event that your in-store inventory for that particular item is out. Customers can also buy items online and return or exchange them in your store—and your POS will automatically adjust your inventory accordingly.
Shopify also has “smart” inventory forecasting tools that not only show your current stock levels, but also analyze your sales patterns to predict how much inventory you’ll need in the future, and guide reordering decisions.
Note that Shopify also integrates with several third-party inventory software options, including the Stocky app, which is included on Shopify Pro accounts. Another possible inventory software integration to use with Shopify is Shopventory. Shopventory plans start at $99/month but will eliminate the need to purchase the Shopify Pro add-on (and Shopventory actually has better reviews than those for Stocky, which models most of the Shopfiy Pro advanced inventory features).
4. Square: Best Free
- Free month-to-month plans
- Free card reader
- Plans for different industries
- Simple & easy to use
- Occasional account issues/fund holds
- Inventory features not as deep as some systems
Square POS Inventory System Features
Square offers some free inventory management features via Square POS, Square for Restaurants Free, and Square for Retail Free; advanced inventory features require a Square for Retail Plus subscription.
- Manage inventory in bulk: Download reports on current inventory and update inventory quantities in bulk
- Daily stock alert emails: Daily report details items that are low or out
- Easy CSV spreadsheets: Import/export inventory with CSV or Excel spreadsheets
- Barcode labels: Create new items by scanning barcode labels (GTIN & SKU); print labels with Square for Retail Plus
- Item categories: View inventory by category
- Purchase ordering & vendor management: This feature requires Square For Retail Plus
- Cross-location stock transfers: This feature requires Square For Retail Plus
- Manage pending restocks: This feature requires Square For Retail Plus
You can run Square with just a free credit card swiper or a $49 contactless and chip reader and a smartphone or tablet. But most businesses with a physical store opt for a countertop POS solution such as a Square Stand for iPad ($169 with a contactless & chip reader), or a dual-screen Square Register with a built-in payment reader ($799). Square also sells complete hardware kits; you can get a full Square Stand kit that includes everything you need to sell, including an iPad, cash register, receipt printer, and card reader —for just $968.
Monthly Software Cost
Square offers both free plans and paid plans. While many businesses will be able to get by with a free Square POS or free Square for Restaurants or Square for Retail plan, you’ll find the most advanced inventory features on the $60/month Square for Retail Plus plan.
Square’s payment processing costs 2.6% + $0.10 for in-person payments across most of its plans. However, Square for Retail Plus subscribers get a reduced rate of 2.5% + $0.10. Payment processing is built-in on all plans and you cannot use an outside payment processor with Square POS.
Where Square POS Inventory System Really Shines
Square is one of the biggest names in the point of sale industry, and for good reason. The company has made convenience its brand with one of the most user-friendly interfaces you’ll find. The Square system is as scaleable as it is affordable, featuring a generous array of features in its free apps, and bulked up inventory in its Square for Retail Plus and Square for Restaurants Plus offerings.
Even with its free app, Square comes with basic inventory features. To access Square’s more advanced inventory, you can subscribe to one of its more extensive services. Here, you’ll have an impressive body of inventory reports, purchase ordering management, low stock alerts, and the ability to manage and send inventory across multiple locations.
Vend by Lightspeed
- Works on iPad or PC
- Integrates with most payment processors
- Free iPhone inventory scanner app
- Built-in loyalty program
- Average reporting
- Can get expensive
Vend POS Inventory System Features
Vend features the following inventory features for retail outlets:
- Bulk importing from a CSV file: Import/export inventory to/from a CSV file
- Unlimited product management: Centralized product catalog with product bundling and separating
- Automated reordering: Set reorder points to automatically fill orders when you get to a certain level of stock
- Actionable inventory reports: See what’s selling and what’s not to help you make restocking decisions
- Barcode labels: Import, create, and print barcode labels
- Barcode scanner app: Free iPhone scanner app lets you conduct partial and full inventory counts
- Purchase ordering: Create and manage purchase orders
- Multichannel inventory: Sync with eCommerce apps such as Shopify, WooCommerce, and BigCommerce
- Multi-outlet inventory: Transfer stocks between different retail outlets (requires Pro plan or higher)
- Inventory software integrations: Use with inventory software like Unleashed, DEAR, Veeqo, and others
Vend sells POS hardware for iPad and PC and also gives you the option to source your own hardware. A complete Pro hardware bundle sold by Vend (includes an iPad, Heckler Windfall stand, barcode scanner, receipt printer, and cash drawer) for $1,036.49.
Monthly Software Cost
Vend software packages start at $99/month for a single terminal and location, billed annually.
Vend does not offer in-house payment processing and instead lets you integrate your choice of processor. Vend is compatible with a number of payment processors and gateways including PayPal, Square, Chase, Elavon, CardConnect, EVO Payments, WorldPay, North American Bancard, TSYS, Klarna, Clearent, and BlueDog in the United States.
Where Vend POS Inventory System Really Shines
Vend is a comprehensive retail POS whose inventory management is easy to maneuver without sacrificing functionality. This POS allows you to import a CSV file to transfer large amounts of inventory easily. You can also import existing barcodes or print new ones. There is a wide variety of options for organizing your products, making it possible to build customizable reports. The centralized product catalog is also a nice function.
Vend comes with a built-in way to automate promotions, making it possible to set discounts across multiple stores or create discounts for individual customers. Stock orders can be automatically generated once a certain item dips below a set point. What’s more, Scanner by Vend simplifies stock counts.
Vend’s inventory functionality can be extended using apps for dedicated inventory management software. Vend does not offer in-house eCommerce but will sync with your Shopify, BigCommerce, or WooCommerce online store.
- Customizable POS system
- Affordable pricing
- Can use on iPad, Mac, PC, or Android
- Numerous payment processing options
- Not as intuitive as some systems
- Can be glitchy
Hike POS Inventory System Features
Hike offers the following inventory management functions, and others:
- Unlimited product catalog: Includes unlimited number of products that you can sort based on any number of variants (size/color/cost, etc.)
- Easy product management: Create composite product bundles, use bulk import and export wizard
- Inventory counts: Full and partial inventory counts that can be scheduled ahead of time
- Inventory tracking on/off: Activate or deactivate inventory tracking rule by product
- Multistore POS: Allows simple stock transfers between stores
- Purchase ordering: Easy purchase order creation
- Supplier management: Record supplier info and contact info, and allocate suppliers to specific products
- Automated re-ordering: Automatic re-ordering based on inventory levels
- eCommerce inventory tracking: Track your online store inventory separately or sync it with your physical store (supported eCommerce channels include Shopify, WooCommerce, and BigCommerce)
You can use Hike on virtually any hardware setup, including self-sourced setups. Some examples of popular POS hardware bundles offered by Hike include Elo PayPoint Plus (all-in-one) and Star mPOP. However, Hike does not list pricing for these bundles on its website.
Monthly Software Cost
Hike software packages start at just $59/month for a single terminal and location, billed annually.
Hike integrates with many different payment processors and gateways you can choose from. Some of these choices include Square, WorldPay, PayPal, Clearent, EVO, PayJunction, and Elavon in the United States.
Where Hike POS Inventory System Really Shines
Hike is an affordable and flexible POS option whose robust inventory management could easily be used for retail or by small food carts or cafes. Hike’s mobility additionally makes it an attractive option for businesses that want their employees to be able to interact on the floor with customers. Hike’s wide selection of payment processor and software integrations also adds to the system’s flexibility.
The Hike POS inventory system can handle an unlimited number of products and is custom-made to handle large amounts of inventory. Custom barcodes on receipts make it easy to look up products. Virtually everything can be automated, from re-ordering to setting up reminders and shipping items between stores.
Hike’s purchase ordering is intuitive, as is its ability to track orders online. This POS software with inventory control capabilities allows for quick bulk imports of inventory data. The central inventory system also makes it possible to keep tabs on your stock across multiple locations from one system. You can schedule a full or partial inventory count in advance to save time as well. There are myriad categories and subcategories that you can place items into, making it easy to search for them.
Looking For One Of These POS Systems For Inventory Management?
Here’s another popular vendor people are looking at when searching for when point of sale inventory software. However, it didn’t quite make our list of top vendors.
QuickBooks POS is a desktop POS system that’s popular with merchants who use QuickBooks Desktop accounting software (QuickBooks POS does not integrate with QuickBooks Online). QuickBooks POS does include some inventory features such as inventory tracking and transfers, but overall, we only rate the software 3/5 stars. This Windows-only POS unfortunately doesn’t measure up with its cloud POS competitors in terms of pricing or features.
Rather than using QuickBooks POS, most QuickBooks Accounting users would be better off using another POS that integrates with QuickBooks.
4 Tips To Make The Most Of Your POS Inventory System
Here are some tips on how you can make your POS inventory system work to your advantage:
- Audit Your Inventory: It’s a scary word, and audits of any nature are never anyone’s idea of a good time. However, even if you think you have a good grasp on what’s coming in and out of your store, it’s always wise to set aside time periodically to do a full inventory audit. Double-check that you have the items your software claims you have to prevent fraud or even simple accounting errors.
- Prioritize Best Sellers: The 80/20 rule in retail is broad but can be a good jumping-off point. It states that you should (very roughly) be making 80% of your profits from 20% of your products. You should single out the “heavy hitters” in your inventory and make sure that they are getting preferential treatment when it comes to ordering and marketing. Your software can easily help you analyze your top sellers and discover buying trends at your business throughout the year.
- Analyze Suppliers: It’s not just your inventory that should be looked at carefully. You should also periodically analyze your supply chain to make sure that you’re getting the best prices available and that there are no inefficiencies in the process of ordering your products and receiving them.
- Use First In First Out: This is another standard industry line, but it’s a good thing to keep in the back of your head. As a rule of thumb, you should be trying to sell the products that you have had in your inventory the longest so that they don’t languish. This is especially important in the restaurant industry, where much of your inventory may be at risk of spoiling. Again, your POS inventory software can track how long all of your inventory has been on hand.
- Learn More Efficient Methods: There is more than one way to perform inventory tasks such as importing items, for example—and it’s possible you’re using the slower way because that’s what you’re used to doing or you don’t know how to do it the faster way. But taking some time to learn the most efficient inventory methods your software is capable of will pay off in the long run. For example, learning how to edit items in bulk can be a game-changer.
Are you happy with your point of sale system overall, but want to beef up your inventory management capabilities? Check out our inventory software comparison chart and see if one or more of the best inventory management software programs will integrate with your current system.
Alternatively, if you already have a good point of sale and inventory system, but struggle with cash flow to purchase inventory itself, it would probably be a good idea to read our article on loans to purchase inventory: 6 Small Business Loan Options For Purchasing Inventory