In the bustling realm of restaurant management, having the right tools to streamline operations is necessary. And in this digital age, analytical tools have emerged as the unsung heroes. They allow restaurant owners to delve into the intricate details of their business performance. Imagine tracking your sales, monitoring inventory, and understanding customer preferences within a few clicks. It’s like having a trusty chef that’s always there for you.
Analytical tools also offer detailed insights that help to guide decisions and optimize workflows. These, in turn, amp up the dining experience for your customers. And speaking of culinary tech, two analytical powerhouses have made their name – Square and Lightspeed. These aren’t just point of sale companies UK; they’re comprehensive platforms designed to revolutionize how you run your restaurant. But which one of these should you choose? In this guide, we’ll help you find a solution that aligns with the needs of your eatery. So let’s find the right recipe for your success!
Overview of Square and Lightspeed
Square
Square is a convenient cloud-based system tailored for retail businesses, especially small-scale operations. With an easy-to-use interface, it offers a bunch of potent tools to help you scale your operations and gain insights into your business. These allow you to stay on top of your sales and manage inventory. Plus, Square comes with a built-in customer directory that keeps track of customer preferences and feedback. These, in turn, help you create lasting connections with your clients.
From managing customer relations to sending out digital receipts, Square has got you covered. It isn’t just a POS tool to process payments; it curates detailed sales reports to help you understand your business better. And when you’re ready to go digital, Square lets you set up an online store that syncs with your physical space. It also allows you to utilise platforms like Instagram and Facebook to get into social media selling and tap into a wider demographic.
Lightspeed
Lightspeed is a POS tool that simplifies business operations, especially for retail brands with multiple locations. This cloud-based system takes care of everything from sales to inventory and even manages suppliers. However, Lightspeed may not be suitable for businesses just starting out or with simple setups. In a nutshell, this platform allows you to keep track of what you’re selling and stay on top of your stock levels. Plus, it generates insightful reports to help you decide what’s better for your business.
What sets Lightspeed apart is its inventory prowess – it lets you fine-tune how you track items. Whether you’re juggling various locations, signalling to reorder times or customising inventory categories, it’s got you covered. You can craft purchase orders for single or multiple vendors right in the system.
Feature Comparison
1. Inventory Management
When it comes to inventory management, both Square and Lightspeed are the best epos systems that offer useful features. However, Lightspeed has the upper hand due to several notable characteristics. It lets you track items, set reorder points, and create 40+ detailed reports. This helps you know what’s in stock, where it’s stored, and how quickly it’s selling.
Lightspeed handles a lot, with over 10,000 SKUs, variations, bundles, and more. It manages inventories by unit or volume, handy for groceries or item/case sales. The alerts for low inventory and vendor management help you order promptly. And with 3000+ catalogues pre-loaded, updating stock is a no-brainer.
Square, while good, doesn’t match Lightspeed’s inventory features. Square lets you see and manage stock but lacks vendor tools and in-depth tracking. For instance, it lacks kitting abilities. It does allow bulk uploads, low-stock alerts, and supplier management, but not as extensively as Lightspeed. The cost is lower, though, at $60 per month, making it an option for budget-conscious users.
2. Payment Processing
Square and Lightspeed are the best epos till systems offering comprehensive payment processing features. Square comes with an all-in-one package with integrated payment processing, a mobile POS app, and multiple e-commerce connections. It offers different payment rates depending on the type of transaction:
· In-person payments: 2.6% plus 10 cents
· Online transactions: 2.9% plus 30 cents
· Remote payments: 3.5% plus 15 cents
· Buy now, pay later: 6% plus 30 cents
On the contrary, if you’re looking for more advanced features like chargeback assistance or flat pricing, Lightspeed may be your best pick. They offer a straightforward pricing structure at 2.9% plus 30 cents per transaction. It’s easy to understand without any hidden fees popping up unexpectedly.
3. Integration Capabilities
Lightspeed POS is all about partnering up with services that work seamlessly with it. These help ensure that your business operations run smoothly. Integration with tools like Xero and QuickBooks helps you keep track of your finances. Plus, options like Hey You and Loke are game-changers for online ordering and loyalty services. Moreover, Lightspeed comes with in-house solutions like Bump Screens and Kitchen Displays to streamline your operations. This ensures that all your business orders flow smoothly from kitchen to table. And don’t miss out on Lightspeed Delivery, a powerful feature for businesses with home deliveries.
On the other hand, Square also comes with its own set of integration capabilities. Square Bridge syncs all your crucial data between your Square account or POS and ERP systems. These include Oracle NetSuite and Microsoft Dynamics 365 Business Central. Square takes care of everything from customers and inventory to orders and transactions.
This helps your business maintain flawless records through a range of integrated platforms. Moreover, Square offers a handy payments extension for Microsoft Dynamics 365 Business Central, letting you accept payments directly from invoices.
Pricing Analysis
When it comes to the pricing structure, Square is the cheapest epos system with a pretty straightforward deal. Its basic POS system is free, and you only need to shift to a paid version if you want those fancy features. On the flip side, Lightspeed comes with a 14-day free trial, but you’ll have to pay at least $60 every month after that.
Talking of hardware, Square has more budget-friendly options. It even comes with a free Magstripe reader with every account. Plus, if you own an iPhone, Square lets you tap to pay with a contactless payment – no need for extra gadgets. But with Lightspeed, they haven’t released their hardware pricing. You need to chat with a salesperson to get a personalised quote. However, systems reportedly start at $1,400 and go up from there.
The catch? If your usual sales are above 20 bucks, Lightspeed may be your better choice. This is because their keyed-in percentage is lower than that of Square. You have to pay for your monthly subscription, but if your sales add up, the savings might just balance the membership cost. In a nutshell, Square wins the budget game, but if you have greater sales, Lightspeed’s costs may even out after factoring in the savings.
| Features | Square | Lightspeed |
| Monthly Fee | · Square POS, Restaurant, Retail and Appointments Free plans: $0· Square Appointments Plus plan: $29· Square Restaurant and Retail Plus plan: $60· Square Appointments Premium plan: $69 | · Lean plan: $89· Standard plan: $149 ($119 if billed annually).· Advanced plan: $269 ($199 if billed annually). |
| Hardware Cost | · Chipper 2X BT card reader: $99· iPad stand or swivel stand: $199· WisePOS E countertop reader: $299 | · Square magstripe-only card reader: $0· Square Reader contactless & chip card reader: $49· Square Stand iPad POS or Square Stand Mount: $149· Square Terminal mobile card reader: $299· Square Register two-screen system: $799 |
Exploring User Experience
It is important to take a look at a few key aspects when comparing the user experience of Square and Lightspeed as the top point of sale UK companies. Square takes the lead in terms of user-friendliness, thanks to its intuitive interface and a highly rated mobile app. It has also integrated a “buy now, pay later” option to increase in-store sales.
Square comes with a user-friendly checkout experience with various customer management features and payment methods. Moreover, when it comes to returns, exchanges, and on-the-go sales, Square has got you covered. Rated as one of the best epos systems for small businesses, Square comes with a simple interface. Plus, depending on the hardware you choose, you can add on a receipt printer, cash drawer, or barcode scanner.
However, where Square might miss the mark, Lightspeed steps in. Lightspeed shines in handling age verification and processing high-risk sales. This makes it a preferred choice for businesses dealing with age-restricted or high-risk items. What’s more, Lightspeed can manage work orders, making it suitable for shops offering repairs or tailoring services. It accommodates special orders and even tracks warranties, which can be quite handy.
Setting up Lightspeed’s “LightSpeed Pro” might require some upfront planning since it’s not cloud-based, but they’ve recently introduced a cloud-based POS system. The interface is clean and easy to understand. Also, Lightspeed has brought in Web Store 3.0 – a customisable e-commerce platform that links their retail POS with the flexibility of the cloud. It comes with mobile-friendly templates, catering to the needs of businesses venturing into online commerce.
In a nutshell, both Lightspeed and Square offer valuable features, but the choice depends on your specific needs. Square excels in ease of use and mobile integration, while Lightspeed shines in specialised features like age verification and managing work orders. It’s not about one size fitting all; it’s about picking the one that fits your business puzzle best.
Customer Support and Reviews
Lightspeed
Lightspeed’s loyal client base commends its customer support for making it a top contender as the best point of sale system UK. Users state that the technical support is quite skilled at understanding their queries and recommending solutions. The support team has gained positive feedback for its flexibility. Moreover, plenty of customers speak highly of the team for thinking creatively to resolve any challenges faced by businesses.
According to Linda, who owns a pet food retail store, Lightspeed offers a smooth onboarding process that is easy to follow. The system’s compatibility with Mac and its intuitive interface were key factors in her choice. She is impressed by the system’s user-friendliness. Linda is also impressed by Lightspeed’s accessibility to real-time business information.
Square
Square has received positive feedback for its ease of use. Users state that it is particularly useful for small businesses like pizzerias. Plenty of users have expressed satisfaction with Square’s convenient and easy-to-use interface. This makes it a breeze to set up a business account. The customer support team is available round-the-clock and resolves disputes promptly, which multiple small business owners praise.
Conclusion
When comparing till systems for small businesses UK, Lightspeed and Square are both strong options. However, it’s essential to consider your operational complexity and stage to choose the right pick for your business. Lightspeed Retail stands out with its robust inventory management and suits well-established small businesses with multiple branches.
In contrast, newer ventures with simpler operations might find Square’s cost-effective simplicity more fitting. To make the right choice, assess your business intricacy and growth plans. To ensure a tailored solution that aligns with your unique requirements, utilise our quote builder today. Your business deserves an optimised approach – find the best fit with our quote builder today.
