IC System Builds Integrity in Variety of Ways

A company’s philosophy is more than just a collection of words that hangs on a plaque in an office building. For the rare organization that truly embodies the values espoused in its philosophy, it can be a collection of ideas that permeate every aspect of the business. When a firm strives towards ideals in this way, it can not only achieve its highest level of productivity and ability to serve customers, but it can also accomplish something more than its commercial goals. It can serve as an institution that brings people together, acts as a role model, and gives back to its community. To see the manner in which a company can embody these lofty ideals, we’ve taken time to examine the case of IC System, a leading accounts receivable company based in Minnesota. A look at the ways in which that company strives towards a higher ethical standard in commercial dealings and beyond is an informative look into the modern state of business.

Business at a Glance

In many ways, the story of IC System is that of a common business plan succeeding with uncommon results. The company was founded in 1938 by Ruth and Jack Erickson and, even from the start, focused on staying ethical and honest. These ideals were built into the very conception of the company through the verbalization of the founders’ values. That ethical manner of doing business has stayed with the company through its 80 years of existence, in part supported by the continued presence of the Erickson family, which is now in its third generation of ownership.

Core Values

The above ideal of remaining ethical in all company dealings has remained a focus throughout the firm’s long life, and has been turned into a guiding set of principles known as “core values.” These values are taught to every staff member as they enter into employment with the company, and are constantly emphasized and celebrated. In fact, the company gives out quarterly awards to employees who best exemplify one or more of the values.

Here’s a look at the five values and what they mean to the company:

• People– a commitment to treating anyone who comes into contact with the organization with dignity and respect
• Integrity – a staunch determination to always do the right thing, no matter how difficult
• Performance– a focus on delivering results that not only meet but also exceed expectations
• Pride– an enduring sense of pride permeates all aspects of the company’s operations
• Innovation– a constant search for the best way to accomplish goals, even if that requires extensive change

These values touch on a variety of aspects of the company, and are not constrained to mere business practices. Instead, the values are a summation of the company’s long-held drive to be the best version of itself throughout all of its interactions, whether internal or external. As our examination of the company delves into the specific ways in which it comports itself, the influence of these values will be evident throughout, again underscoring the benefit provided by a strong adherence to underlying ideals.

Community Outreach

One clear way the preceding values can be seen is through the company’s commitment to reaching out to its community. Knowing that no business exists in a vacuum, IC System has long recognized the importance of giving back to others and contributing a lasting impact to those around it. So firm is the company’s resolve to support others that it created an internal organization to handle matters of charity and other related issues. This group, known as the Employee Charitable Help Organization (ECHO), is coming up on 40 years of operation. Members help organize charitable events, seek new opportunities for donations, and coordinate community activities.

Below, we’ll take a look at some of the activities and outreach events organized by ECHO, along with the ways in which employees have participated in such events. One of the things that emerges when examining this work is how thoroughly the company’s commitment to ethical and honest treatment of others is present in the individual efforts of employees. While it would be easy for the company to make donations as an organization and leave its charitable efforts at that, it is clear that these events are an opportunity for all staff members to become involved.

Polar Plunge

This popular event has become a mainstay of the charitable outings organized by employees of IC System. Each year, staff members from both the La Crosse and St. Paul offices participate in the event to support the Wisconsin and Minnesota Special Olympics. The event, which takes place in January in Minnesota and March in Wisconsin, involves participants braving the elements to submerge themselves in water of frigid temperatures. Participants are sponsored through donations to the Special Olympics. The 2016 team built on its history of widespread participation by raising thousands of dollars for the cause.

In-House Volunteer Projects

These types of events, a mainstay of the work ECHO does to give back to the community, often center on food drives and other methods of combating hunger. These events take place in the office and work to involve as many employees as possible to achieve the goals of the initiative. One recent project centered on work with the White Bear Emergency Food Shelf and The Hunger Task Force of La Crosse. To aid the organizations, employees put together a total of 636 backpack lunches to help feed the hungry. Food and materials were assembled by hand for later delivery to families with children in need of support.

Another example of this type of event was a recent effort to provide breakfast to families and patients at the Gillette Children’s Hospital in St. Paul. Employees collected donations and assembled the breakfasts, along with healthy snacks and other treats. The meals were delivered to the Ronald McDonald House Family Room at the hospital to help those going through a difficult time in their lives.

Sporting Events

With a knowledge that different types of charitable endeavors appeal to different employees, the company makes sure to vary the kind of outreach it does throughout the year. A prime example of this is the way many of the company’s philanthropic efforts revolve around sporting events, both as spectators and participants. By running events of this type, the company involves the maximum number of staff members in its efforts.

A recent example was an outing to a Minnesota Twins game in support of the company’s Relay for Life team. The outing was an opportunity for staff to see their local Major League Baseball team play at half price, with the company footing the other half of the bill. For each ticket that was purchased, the team, in conjunction with the Center for Diagnostic Imaging, donated $10 to the company’s Relay for Life team. The Relay for Life event, a staple of the company’s outreach, raises money through donations to support cancer research.

Opportunities to participate in sports in service to the community are also a mainstay of the company’s outreach. One such event that is now in its 20th year is the company’s annual charity golf tournament. The tournament, which gives employees the opportunity to play a full 18 holes of golf, in addition to holding competitions and a putting contest, helps raise money for St. Jude’s Children’s Research Hospital and ARMing Heroes. Donations raised from the tournament often total over $5,000, and help make significant contributions to the missions of each organization.

Interactions with Consumers

Beyond charitable outreach, another manner in which the company pursues integrity throughout every aspect of its actions is through communication with consumers. As a collection agency, the company is cognizant of the sensitive nature of the work performed by its employees. For this reason, among others, a high priority is placed on ensuring that agents always treat consumers with the respect they deserve.

To achieve this goal of ethical treatment of consumers, agents are extensively trained in consumer relations and the details of how best to conduct themselves to help all involved achieve a financial resolution. To ensure that agents are comporting themselves in the best manner possible, calls between staff and consumers are recorded and reviewed. Feedback from consumers is also taken into account during the process to ensure that all voices are heard and the company is staying receptive to the needs of all those with whom it communicates.

Data and Information Security

One key consideration for consumers and clients alike is the importance of data security. As stories of data breaches at large companies become increasingly more commonplace, it is understandable that people have become more concerned and cognizant of the manner in which their information is being handled. This issue is of even more importance for a company like IC System, which is often trusted to handle information of a sensitive nature.

Here again, the company shows itself to be firmly committed to going above and beyond in its efforts to provide a safe and reliable service to others. While it is common for many in the collection industry to conduct the Payment Card Industry Data Security Standard (PCI DSS) self-assessment, the company opts for a heightened level of security. To this end, it relies on a third-party auditor, FRSecure, to conduct its security audits. This auditor is not only an independent external operator, but it also conducts the much more rigorous PCI DSS 3.2 Report on Compliance. Not only is this audit more stringent than the PCI DSS, it is also conducted on the entirety of the company’s network, not just the portion of the network tasked with processing credit cards.

National Licensing

An important consideration when selecting a collection agency is its licensing status across the entirety of the country. The reason for this is that a significant number of people who accrue debt in a specific area will end up moving to a new area, or even a new state, by the time the debt goes to a collection agency. In this case, it is important for the collection agency to be licensed and/or bonded in not only the original state, but also the new state. This level of licensing allows the collection process to proceed in a legal manner, and also protects clients from legal repercussions should they partner with an agency that pursues debt in an area in which they are not licensed.

IC System is licensed and/or bonded in every state and territory in the U.S. for precisely this reason. The company understands that an important part of the work it does is being able to provide its services in a wide range of situations. At the same time, the company understands that it must conduct itself in a manner that is entirely above board and ethical in both intent and legality. This commitment to honest and morally upright service allows clients and consumers alike to feel confident that their individual cases will be handled in a manner that is in line with the company’s reputation for outstanding conduct.

Hard Work and Longevity

As evidenced in the above examples, the commitment to working on behalf of clients and consumers is a primary focus at the accounts receivable company. Over the years, it has pursued the simple idea that when high-quality and high-integrity service is provided, people take notice. The company’s success over the years has shown that idea to be true and, as a result, the company is now celebrating its 80th anniversary.

The anniversary celebrations themselves epitomize the company’s commitment to providing a productive and encouraging workplace for all employees. Festivities are slated to last through the month of October, and will include a wide range of parties, events, and other activities. The month-long celebration kicked off with a photo shoot to document the expansive staff, an indication of how much the company has grown over the years. Celebrations will also be incorporated into the company’s annual 5k race for charity, as well as the end-of-month Halloween party, where prizes and refreshments will be given out to commemorate the occasion.

Recognition

Of course, when a company exhibits the kind of longevity and commitment to quality that IC System has exhibited over the years, it is impossible for others not to take notice. As a result, the company has been decorated with awards many times over the course of its existence. These awards, which stand as a testament to the company’s determination to hold itself to a high standard, touch on a range of areas, from customer service to employee excellence. When the company or an employee receives an award, it is prominently celebrated within the office to further reinforce the culture cultivated by the organization’s core values.

Recently, the company has been at the center of two awards that typify the types of recognition to which it has become accustomed. The first is the presentation of a “CFO of the Year” award, which will be given to executive vice president Kurt Heinbigner. The award, which is presented by the Minneapolis/St. Paul Business Journal, has been a mainstay of the Minneapolis business community since 2007. Its purpose is to highlight exceptional financial leaders, noting that CFOs play a crucial role in a company’s leadership team. The award is typical of the type of recognition bestowed on company employees, which have long been known for their commitment to their profession.

Another recent award given to the company centers around its work developing the skills and leadership abilities of its staff. The award, given by Brainier at the E3Learning User Conference, is known as the “Customer Excellence Award - Developing Leadership/Blended Learning.” The recognition highlights the company’s Leaders of Tomorrow program, which is a ten-week training program designed around familiarizing participants with tools, skills, tactics, and philosophies to become an ideal leader of the company’s management team. When viewing the success of the program, and the awards for which it has been recognized, it is perhaps unsurprising that the leadership team fielded by the company is known as a standout example of competency, quality, and service in its field.

For many companies, philosophies and mission statements amount to little more than well-intentioned words on paper. But for the rare company that actually strives to embody the goals it has outlined regarding ethics and honesty, the results can be striking. Such is the case with IC System when viewing the founding principles and core values upon which the company operates. By observing the way those ideals work their way into every aspect of the company’s operations, one can clearly see the impact of a strong adherence to an underlying philosophy. A deeper look at the company through the above analysis can be informative for anyone seeking to understand how a commitment to idealism can thrive in the modern world of business.

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