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5 Route Planning Tips and Tricks for Businesses 2021

This is where route planning comes in handy. What follows are five tips and tricks to help you plan routes for your employees.

Published

3 years ago

May 27, 2021

TwinzTech

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It can be challenging to send out employees to meet with your customers instead of having customers come to you. It means you have to worry about creating efficient routes for your drivers, all the while taking care of everything else involved with running your business. This is where route planning comes in handy.

What follows are five tips and tricks to help you plan routes for your employees.

Table of Contents

1. Create a System to Assign Service Calls to Appropriate Technicians

If you run a service business, you’ll likely have to plan routes for your technicians. However, it’s not as simple as giving them directions to get to your customers. You also need to make sure that you’re sending the right technician for the job. Furthermore, some calls might be more urgent than others. So, how do you figure out which technician should go where, and how do you plan a service call route for them?

Instead of figuring all this out manually, your best bet is to use route planning tools. A route planning tool can help you tag service calls to ensure that the right technician gets assigned there. You can then plot the most efficient route between needs for each technician based on the tagged calls for them.

2. Plan Ahead so You Have Enough Drivers for Busy Delivery Times

If you’re in the delivery business, resource planning is essential. You need to know how many orders can fit in your delivery vehicles ahead of time and whether extra drivers are required.

To ensure that deliveries arrive on time and that no driver has more packages than they can handle, you should use route optimization software. This software will show you how many stops are possible within a specified period. In this way, you’ll know how many packages to give each driver.

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3. Plan your Delivery Route and Then Print Shipping Labels

Two time-consuming tasks that delivery managers often have are route planning and printing and sorting shipping labels. To make things easier on yourself, you should consider planning your multi-stop route first, then save that route in CSV format. Next, add a column for delivery information and a column for the box label.

This will enable you to print the shipping labels in the order that the packages need to be delivered. As a result, everything will be sorted in proper order, and you can stay more organized.

4. Provide Your Drivers with Customer Details

Delivery service isn’t just about dropping off items to customers. It’s also about customer interaction. Your delivery drivers are direct representatives of your business, so they must represent you positively. To help them do this, you should provide them with details about the customers they’re delivering to.

The parties should include the customer’s name, contact number, and what the item is that they’re having delivered. You might also consider including information on the location they’re returning to and whether the customer has given any special instructions.

5. Keep Tabs on Your Delivery Drivers

If you pay your drivers by the hour or you have guaranteed delivery times, it’s essential to keep track of where your drivers are at all times. This will help you to reduce overtime pay and keep customers up-to-date on when their package will arrive.

Additionally, if you see that a driver’s route is taking longer than predicted, you can adjust their schedule. For instance, you could maybe give one of their stops to another driver or make changes to the driving route so they avoid high-traffic areas. In that same vein, if a driver finishes earlier than planned, you know to give them more stops.

Business

Navigating the Process of Selling Deceased Estate Shares

This article aims to provide a comprehensive guide to selling shares from a deceased estate. Process of Selling Deceased Estate Shares.

Published

1 week ago

May 9, 2024

TwinzTech

Navigating the Process of Selling Deceased Estate Shares

Table of Contents

1. Understanding the Basics of Selling Deceased Estate Shares

Dealing with a deceased estate can be a challenging and emotional process, especially when it comes to handling financial assets like shares. This article aims to provide a comprehensive guide to selling shares from a deceased estate.

2. What are Deceased Estate Shares?

Deceased estate shares refer to the stocks and shares that were owned by an individual who has passed away. These shares become part of the deceased’s estate and are subject to the terms of their will or estate plan.

3. The Importance of Valuing the Shares

The first step in selling deceased estate shares is to obtain a current valuation. This valuation is crucial for several reasons: it helps in distributing the estate among beneficiaries, it may be necessary for tax purposes, and it gives an idea of the market value of the shares.

4. Legal Requirements and Executor Responsibilities

The executor of the estate plays a pivotal role in the management and distribution of the deceased’s assets. This section will cover the legal responsibilities and steps the executor needs to take to lawfully sell the shares.

5. Obtaining Probate

Before any action can be taken with the shares, it’s often necessary to obtain probate. Probate is a legal process that confirms the executor’s authority to deal with the deceased’s assets.

Transferring Shares into the Executor’s Name

Once probate is granted, shares may need to be transferred into the name of the executor. This process varies depending on the company and the type of shares.

6. The Process of Selling Shares

After completing legal formalities, the executor can proceed with selling the shares. This section will outline the steps involved in this process, including choosing a brokerage or financial service, understanding market conditions, and making informed decisions.

Deciding on the Right Time to Sell

Timing can significantly impact the returns from selling shares. Executors need to consider market conditions and financial advice to determine the best time to sell.

Completing the Sale

This subsection will detail the actual process of selling shares, including placing orders, handling transaction fees, and ensuring all regulatory requirements are met.

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7. Navigating Tax Implications and Reporting

Managing tax obligations is a critical aspect of selling deceased estate shares. This section will explain the potential tax implications and the importance of accurate reporting for both capital gains tax and inheritance tax considerations.

Understanding Capital Gains Tax Responsibilities

When shares are sold, any profit made from the time of the deceased’s passing to the sale date may be subject to capital gains tax. Executors need to be aware of these implications and plan accordingly.

Inheritance Tax Considerations

In some jurisdictions, the value of the deceased estate’s shares might impact inheritance tax calculations. It’s essential for executors to understand these aspects in order to ensure compliance with tax laws.

8. Common Challenges and How to Overcome Them

Selling deceased estate shares can present unique challenges. This section will discuss common issues such as disputed wills, fragmented information about the shares, and market volatility.

Dealing with Disputed Wills and Beneficiary Disagreements

Disputes over the will or disagreements among beneficiaries can complicate the process. Executors must handle these situations delicately and legally.

Managing Market Volatility

Shares can be subject to market fluctuations. Executors should be prepared for this volatility and may need to consult financial advisors to navigate these waters effectively.

9. Tips for Executors Handling Deceased Estate Shares

This section will provide practical advice for executors, including the importance of seeking professional advice, keeping thorough records, and communicating clearly with beneficiaries.

Seeking Professional Financial and Legal Advice

The complexity of selling shares from a deceased estate often necessitates professional advice. This can range from legal counsel to financial advisory services.

Record Keeping and Communication with Beneficiaries

Maintaining transparent and thorough records is crucial. Executors should also prioritize clear and consistent communication with all beneficiaries to avoid misunderstandings.

Conclusion

Selling shares from a deceased estate is a responsibility that requires careful attention to legal, financial, and interpersonal dynamics. By understanding the process, staying informed about tax obligations, and tackling challenges head-on, executors can fulfill their duties effectively and respectfully.