Thea Dudley
With more than 30 years of credit management experience in the LBM industry, Thea Dudley consults with companies on a wide range of credit and financial management issues. Thea is a frequent speaker for industry organizations such as Insulation Contractors Association of America, Western States Roofing Contractors Association Expo, National Insulation Contractors Exchange, International Builders Show, International Roofing Expo, JLC live! Remodelers/JLC/Deckmasters, Guardian Building Products Trade Shows, National Assoc. Of Credit Managers and National Women in Roofing
Latest Articles
Finance
The trouble with third-party credit agencies
If a cow doesn’t produce milk is it a milk dud or an udder failure? If your third-party credit agency isn’t working for you, why are they working for you?
Finance
The state of state lien laws
The mechanics lien process and all its related glory is by far the number one topic I get asked most about, and it's the most misunderstood and under-utilized tools in the credit and sales tool kit.
Finance
Five steps to cashflow nirvana
Lack of cashflow is one of the top three reasons businesses fail, along with poor management and partnerships. I would add “making someone else’s problems your problems” to that list.
Finance
Credit Q&A special edition: COVID-19 vs. Your Cashflow and A/R
Take the COVID-19 crisis as a serious wakeup call and revamp, improve, streamline, and update your credit and collections processes.
Finance
It’s time to convert to a virtual filing cabinet
A virtual filing cabinet is easy to set up. Select a place where it will “live” at your company, such as your shared drive, then password protect it.
Finance
Understanding credit insurance
If we have credit insurance on the accounts receivable is there any reason the company would still need me?
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Finance
Double dipping credit card discounts
Dear Thea,
We are considering an announcement to our customers that credit card payments will be exempt from their discount.
Finance
No discount on sales tax or delivery charges
Dear Thea,
We have never allowed customers to take their discount on sales tax or delivery charges. We don’t allow the discount on sales tax due to the fact that we have to remit the full amount to the state, not the discounted amount.
Finance
When to ask for updated credit applications
How often should we be getting updated credit applications signed by our customers? Is there a period of inactivity on the account that should be a factor to consider if we ask the customer to sign the forms again?
Oxymorons in the credit department
Dear Thea,
If I hear the phrase “He has been a great customer with us forever. He always pays, he just runs slow,” I will scream!
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