During the collection made by an agency or debt recovery selection, most clients remain inquisitive about the processes that are involved. To gain a deeper perspective on the collection processes, it is essential to have basic knowledge about the operations of the agency and how they carry out their various work aspects. The best place to get all these information is the IC System, which is an account receivable company and has for eighty years been in operation. IC System, founded by Jack Erickson and Ruth in 1938 has remained a family business since its formation and has been passed down to three generations. It has its headquarters located outside St. Pauls’ Minnesota. IC System, being a family company, is based on values like pride, performance, integrity, and innovation.
During the subject address, the IC system provides informative observations of actions that the client is encouraged to take before formal collection begins. The company explains this in a five-step formula. In the first step, the client is advised to engage in a simple investigation into the customer’s account details. This is due to the fact that a customer can misplace or not receive any bill at all. In case the account is still unresolved after billing, it is advisable to deeply look into and see any details from the customer’s account that might say anything about the outstanding financial status. If the account still remains past due, the IC System advises the client to contact the consumer and try resolving any outstanding balances. The reason for this is the possibility of the customer’s forgetfulness in covering the bill and a reminder is just but enough. The next step is the after initial attempts. Possibilities have it that the client may have trouble contacting the customer either through letters or telephones. IC System recommends attempts to uncover alternative contacts to the customer for instance through sending emails. However, account specifics should be out of mention to prevent third parties from accessing the customer’s private data; these communications should be made in a polite manner. In cases where the two go unanswered, the system recommends the calling of the collection agency for assistance. The agency takes over the attempt to contact the consumer.
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