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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.

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Completing Your Business with the Right Tech

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.

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.

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Blockchain

Can Tokenization of Asset Bring More Investment From the Masses

Tokenization of assets isn’t a new phenomenon, but unlike the waves in the past STOs, this time, it might tip the balance in favour of decentralized finance.

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Ripple Cryptocurrency

In a new article, Coindesk has predicted that the Cryptocurrency’s DeFi sector is set to see a resurgence of Security Token Offerings (STOs) and has predicted “a sixfold increase in the total dollars raised using such funding methods over the next four years.”

Tokenization of assets isn’t a new phenomenon, but unlike the waves in the past STOs, this time, it might tip the balance in favour of decentralized finance. The article further predicted that “more private companies will bypass traditional initial public offerings (IPO) and instead use blockchain technology to digitize the capital-raising process.”

Although traditional capital markets and venture capital firms have ceded some prime money-making to DeFi, doing away with conventional IPOs might be a significant first step to democratizing venture financing.

Past the debacle of early blockchain ICOs, where the process by which a company ICOs was easy, but the lack of related regulations within the US and abroad around ICOs had led to many fraudulent crowd sales, illegal airdrops, and outright scams. This, in turn, had tarnished the reputation of blockchain-based projects. However, tokenizing assets and either fiat-backed or cryptocurrency backed by gold and silver have dramatically increased confidence in the crypto-asset markets.

The tokenization of assets that represents a real tradable asset, in reality, is quite similar to the process of securitization. An STO, with increasing frequency, is also used to describe a share in a company, ownership of a piece of real estate, or participation in an investment fund. These security tokens are also tradeable on secondary markets.

The new token economy offers to open up the investment world making it more transparent, efficient, and fair. The simplicity of tokenization will also help in reducing the friction surrounding the creation, purchase, and sale of securities.

In addition, it will bring several advantages for both buyers and sellers that will include:

1. Increased Liquidity of the Market:

The tokenization of illiquid assets in private hands, specifically art, real estate, and the likes, will significantly boost the market’s liquidity. Not only will it make it possible to liquidate the illiquid assets partially, but the ability to trade the security tokens in the secondary markets will also increase the trading activity bringing with it a broader base of traders and investors.

The “liquidity premium” alone makes it worthwhile to tokenize illiquid assets capturing more excellent value for the underlying assets.

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2. Making Transactions Faster and Cheaper:

The intelligent contracts attached with the tokens and their automated execution upon the meeting of coded terms in the smart contract will mean automation and lack of administration of much cheaper transactions. The buying and selling of the security tokens will require lesser intermediaries, faster deal execution and lower transactional fees.

3. Increased Transparency:

Since a security token is also essentially a smart contract, it can be embedded with the owner’s responsibility and rights. The fact that records on a blockchain are immutable searches, provenance and trading history would be a cinch. The entire chain of ownership rights, responsibility, and origin of the security token will be entirely transparent.

4. Greater Accessibility:

Most importantly, tokenization could open up the investment world to a large audience. The high liquidity, market movement, lower investment amounts, and shorter periods required to hold the token can make the token economy to the average investor. Like the ticket divides an illiquid asset, the tokens themselves are readily divisible into smaller and smaller fractions enabling even a small investor to participate in the token economy.

With automated workflows and cheaper and cheaper processing costs, and token administration, the minimum investment amounts will fall further. This will also increase liquidity allowing investors to hold the investments for shorter periods before cashing in. The trading is made even more robust due to secondary markets that operate 24/7.

5. Easier Asset Conversion:

With the DeFi market making the conversion of crypto assets into fiat currency more readily available, the same will become true for security tokens. By providing greater liquidity to an average investor that often shies away from investment into illiquid assets due to fear of the lengthy process of conversion of an illiquid asset into a liquid one.

If anything, the strong emergence and success of the DeFi market have shown us that making finance decentralized, transparent, and easily accessible will bring in more investors, not less, and lead to the market’s democratization.

In conclusion, the advent of a token economy will lead to a more transparent, liquid, accessible, and just financial and investment system that will serve more and more people via financial products and investment opportunities for all.

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