Any retail business using Netsuite ERP that wants to succeed must select an appropriate Point of Sale system because it is the foundation of sales, staff, and customer management. This article will present you with the definition, the importance, and 3 different Netsuite Point of sale solutions with 3 distinct characteristics you can consider integrating into your business.
What is a POS system?
A Point of Sale (POS) system is a vital tool used in retail and hospitality industries to facilitate transactions, manage sales, and streamline essential business operations. At its core, a POS system serves as the central hub where customers complete purchases and businesses process payments. Beyond its fundamental transactional role, a typical POS system incorporates a range of features designed to optimize various aspects of retail management. These features often include inventory management, enabling businesses to track stock levels, manage purchase orders, and automate restocking processes. Additionally, modern POS systems also offer reporting and analytics functionalities as well as customer relationship management (CRM) tools to manage customer data and preferences for a seamless full-suite management experience.
Overall, a POS system acts as a comprehensive tool that not only facilitates transactions but also assists businesses in efficiently managing inventory, analyzing sales data, and delivering enhanced customer experiences.
Importance of POS integration to Netsuite ERP
Integrating a Point of Sale (POS) system into NetSuite ERP holds significant importance since it enhances the comprehensive capabilities of the ERP suite, particularly in enhancing retail and commerce functionalities. A POS system within NetSuite ERP serves as a crucial link between front-end sales transactions and the overarching business management processes. As stated above, with its transactional and management features, it can allow seamless synchronization of sales data, inventory levels, and customer information in real-time across various sales channels. This synchronization ensures consistency and accuracy in data, offering businesses a unified view of their retail operations in collaboration with other Netsuite services.
So by providing a cohesive platform that manages both front-end sales and back-end business processes, the POS integration enhances NetSuite ERP’s ability to offer holistic and integrated solutions, especially in addressing the intricate needs of retail-centric operations within a broader organizational framework. Here are the 3 different Netsuite POS that can allow customers to gain such advantages, but in 3 different ways:
Connect POS – Next-gen Netsuite Point of sale
ConnectPOS represents the future of point-of-sale systems with its next-generation capabilities. As a cutting-edge POS solution, ConnectPOS redefines retail experiences through its innovative features and user-centric design. Its next-gen Netsuite Point of sale functionality leverages modern technology to offer heightened omnichannel experiences, multiple store management, and endless customization to adapt swiftly to evolving market demands.
High omnichannel selling capabilities
ConnectPOS offers extensive features that accommodate business needs in order to open new possibilities in omnichannel experiences. This POS system resolves issues for all touchpoints: e-commerce, social networks, and in-store customers, as well as on-the-go customers:
- E-commerce: ConnectPOS offers online purchases and pay/refund/exchange in stores. It also supports universal payment methods with automatic tax calculation.
- Social networks: ConnectPOS helps trigger sales through customer recognition on social networks with displayed targeted messages and promotion
- In-store customers: ConnectPOS provides AI facial recognition technologies for customer identification to find purchase history and generate exclusive offerings. Online products are also available to shop in-store with visible stock (with additional features like Endless Aisle and Assisted Selling).
- On-the-go customers: Offers barcode scanning for product info display and search on Product Discovery Kiosk, and customers can receive a digitally secured receipt.
Remote store monitoring (multiple locations)
ConnectPOS currently possesses cutting-edge technologies in data analytics and insight-finding. Businesses can easily and swiftly receive real-time data analytics from all locations to get insight into staff performance, product trends, etc, to optimize every business retail activity.
ConnectPOS offers an extensive range of customization options, with notable examples including:
- Connecting with 30+ external software applications (such as accounting or vendor catalogs) for integrations.
- Exporting data and linking with external databases or files.
- Customized reports and receipt layouts to suit specific needs.
- Distinct procedures for managing orders and inventory, with unique processing rules.
- A specialized system for tracking and managing special orders.
With many more custom options not limited to those mentioned above, ConnectPOS is the perfect solution for those businesses that want a POS customized to their specific, enterprise-level needs to expand their operations and provide customer-centric experiences.
Connect POS pricing
ConnectPOS pricing is highly understandable and competitive. The pricing model is monthly subscription-based, in which software usage is billed every 30 days, and the price starts from $49/month for the standard mode. Even the Premium plan is still affordable in comparison to other POS systems while still maintaining functionality without any compromise. It is also worth noting that ConnectPOS also offers a 14-day trial in which you can easily experience every Premium feature to evaluate their suitability to your business.
SuitCommerce InStore: In-house Netsuite Point of Sale
SuiteCommerce InStore is incorporated within the NetSuite ERP package and provides a dynamic and comprehensive solution. Its advantages include its in-house nature to the Netsuite platform, mobile POS, and digital selling.
Native Netsuite ERP integration
As stated above, NetSuite POS is seamlessly integrated within the NetSuite ERP suite, providing a unified platform for managing various business operations as the system is securely connected with Netsuite on a cloud platform. This integration offers a complete view and visibility of financials, inventory, customer relationships, and other critical aspects of the business, streamlining operations and eliminating the need for disparate systems.
Full-featured Mobile POS
SuitCommerce InStore can help you to easily conduct common point-of-sale transactions like cash and carry, exchange, and returns through a touch-tablet user interface with responsive design. Your stores’ sales associates will be equipped with a system that can facilitate digital selling and servicing through any device anywhere, creating an easy, engaging experience in-store. This mobile POS functionality empowers businesses with on-the-go sales capabilities and flexibility to engage customers beyond traditional store settings.
Dynamic digital selling
With SuitCommerce InStore, product recommendations, cross-sells, and upsells are offered based on merchant-driven criteria, including location and “who bought this and also bought” patterns.
Netsuite POS Pricing
The price of SuitCommerce InStore is not transparent. In terms of the pricing model, users need to pay a one-time implementation fee for the initial setup and subscribe to Netsuite for an annual license fee that is dependent on 3 components: core platform, optional modules, and the number of users. The contract for the implementation of SuitCommerce InStore is also known to be quite long and extensive, with additional costs potentially coming from premium customer support and training.
Lightspeed POS – Time-saving Netsuite Point of sale
Lightspeed POS is a robust and versatile Netsuite Point of Sale system designed to revolutionize the retail and hospitality industries. With advantages in efficient inventory management, third-party integration, and responsive customer support, Lightspeed POS empowers businesses to streamline operations, manage inventory effortlessly, and deliver exceptional customer experiences.
Various third-party integrations
Lightspeed POS has over 250 third-party integrations, offering different services to allow businesses to run at full capacity. It integrates with many inventory management programs, reporting/analytics tools as well as marketing and accounting services. This extensive collection of integrations can potentially streamline and speed up business operations if they can choose the suitable ones for their own businesses.
Robust inventory management
Lightspeed POS offers robust inventory management systems designed to automate and improve enterprises’ stock control procedures. Lightspeed’s inventory management system allows businesses to control stock levels efficiently, evaluate sales patterns, and automate restocking procedures. This platform also allows users to categorize items, set reorder points, and receive alerts when stock levels are low – all of which are required for essential inventory management in businesses. To provide more value to consumers, a preloaded library of over 8 million items and bulk upload features for over 10,000 SKUs at a time are also provided.
Responsive customer support
Lightspeed POS is equipped with many customer support features that help speed up a customer journey in the app. Customer support chat features are responsive throughout all communication modes: live chat, email, and telephone, with responses usually being sent within 24 hours to provide customers with quick help and save time.
Lightspeed POS pricing
Lightspeed POS has a subscription-based pricing structure that is divided into 2 time frames: monthly bill (starting from $139/month) and annual bill (starting from $119/month). Overall, comparing Lightspeed POS pricing to other Netsuite POS pricing structures, we find that it is quite a bit more expensive, and even if you use the annual bill to reduce cost, the lengthy contracts coming with it might be an issue to cancel later down the line.
Evaluation of different Netsuite Point of sale systems
It can be seen that ConnectPOS stands out among Netsuite POS, Lightspeed POS due to its emphasis on next-generation technologies. Even though Netsuite POS can integrate seamlessly within the Netsuite ecosystem while Lightspeed POS offers technologies that expedite business processes, ConnectPOS leads the pack with its innovative next-gen technologies, prioritizing futuristic solutions for businesses.
ConnectPOS distinguishes itself by focusing on forward-thinking features like on-site AI facial recognition feature, and a self-checkout process to be one of the leading next-gen POS in the POS market that is shifting more towards enhancing customer experience in 2024. In essence, it harnesses next-gen technologies (Microservice, API-integration, headless customization,…) to provide an intuitive and future-ready POS system, prioritizing ease of use, real-time analytics, omnichannel capabilities, and adaptable interfaces. Its commitment to leveraging cutting-edge tech ensures that businesses are equipped with a system capable of seamlessly adapting to evolving market demands.
Integrate the right Netsuite Point of sale for your business
It’s important to consider that choosing an appropriate Netsuite Point of Sale solution also involves careful consideration of various factors tailored to your business needs. Here are some additional criteria to consider integrating a Netsuite POS system suitable for your business:
- Assess Business Needs: Understand your business requirements—consider the retail industry, transaction volume, inventory management needs, and scalability to see which POS system has the most suitable key features that are essential to your business.
- Integration Capabilities: Ensure the POS system integrates seamlessly with other tools or software your business uses (e.g., accounting, e-commerce platforms).
- Security Measures: Prioritize systems with robust security features to safeguard sensitive data and ensure compliance with industry standards.
- Cost Considerations: Determine your budget, including software subscription fees, hardware costs, maintenance, and support.
- Read Reviews and Get recommendations: Research and read reviews from businesses similar to yours. Seek recommendations from industry peers or experts.
- Request Demos and Trials: Request demonstrations or free trials from POS providers to test functionalities and usability firsthand.
This article has thoroughly analyzed 3 different Netsuite POS systems regarding the key features and pricing structure of each of them. If you have considered all the criteria for choosing the appropriate Netsuite Point of Sale and find that Next Gen technologies POS are suitable for your business, Contact us to find out more information and book a demo of ConnectPOS
FAQ Netsuite Point of Sale system
What is a next-generation Netsuite Point of Sale system?
Answer: A next-generation POS system represents an evolution beyond traditional POS systems, integrating advanced technology and innovative features to enhance the customer experience, streamline operations, and offer greater flexibility. It often leverages cloud-based infrastructure, AI (Artificial Intelligence), mobile capabilities, and integration with other business tools.
What are the key advantages of next-gen POS systems?
Answer: Next-generation POS systems offer numerous advantages:
- Enhanced Customer Experience: Integration of innovative features and mobility improves customer interactions and service.
- Comprehensive Data Insights: AI-powered analytics provide deeper insights into customer behavior, sales patterns, and inventory management, aiding better decision-making.
- Flexible and Scalable: Cloud-based infrastructure allows for easy scalability and access from anywhere, promoting business growth and adaptability.
- Improved Efficiency: Automation of tasks, streamlined workflows, and seamless integration with other systems enhance operational efficiency.
Are next-gen POS systems suitable for businesses of all sizes and industries?
Answer: Yes, next-generation POS systems cater to businesses of various sizes and industries. While the specific features and functionalities might vary, these systems are adaptable and scalable, making them suitable for small businesses, large enterprises, retail stores, restaurants, hospitality establishments, and other industries seeking advanced POS solutions.