Saint Paul's IC System Celebrates Its 80th Anniversary

For IC System, October marks an occasion rarely celebrated by any company, as the accounts receivable corporation celebrates its 80thanniversary. The Minnesota-based company plans to mark each week of the month with a celebratory event in appreciation of its heritage, values, and employees. For the better part of a century, the company has remained family-owned and operated over the course of three generations since Ruth and Jack Erickson founded the company. The company has planned celebrations in accordance with that cornerstone of the firm’s philosophy, as each will aim to recognize a staff member that has become part of the family-owned company. CEO John Erickson, Jr. epitomized this sentiment upon announcing the festivities, saying, “I think we’ve lasted this long because we treat our employees like family, and what better way to celebrate a birthday than with family?”

Let the Festivities Begin

On October 3, festivities will begin with a company-wide photograph to immortalize the occasion, during which employees will gather in the shape of the number 80. The iconic memorial will allow employees to be showcased as the face of the company.

On Thursday of the following week, October 11, the company will cater an employee appreciation breakfast with a selection of healthy and variable foods from fellow Twin Cities business stalwart D. Brian’s Deli.

October 19 will provide employees a chance to put those calories to good use by participating in what has become a company tradition, its annual 5k fundraiser. Proceeds from the fundraiser will benefit charities serving the communities that IC System has ingrained itself in through its in-house charity committee the Employee Charitable Help Organization, which was founded in 1981. This year’s addition echoes the company’s seminal anniversary with the motto “This Race is a Piece of Cake.”

A crescendo to the festivities will arrive on October 25 during the company’s birthday party. The St. Paul-headquartered office will don all the bells and whistles any good party needs with balloons and other effervescent decor throughout the building. In a break from typical birthday tradition, employees will be on the receiving end of the gift giving. Each of the company’s more than 500 employees will receive a special gift, along with the chance to win one of many prizes on which the company has spent over $5,000. The party will culminate with a catered lunch and, of course, cake for dessert.

Halloween will mark the conclusion of the festivities with another incarnation of a company tradition. The annual costume contest will be a chance for employees to win $80 in cash as a reward for the scariest, most unique, and best costumes of the year. The end of the celebration will mark the company’s application of heightened morale into its integrity-driven presence in the collections industry.

Treating Clients as Family

As the company has grown from its modest beginning, so has IC System’s reputation as being a premier service provider to original creditors nationwide. Despite this expansion, the company’s commitment to provide business collection services to small and medium-sized businesses has facilitated its ability to build partnerships across all industries. Programs like IC System’s Main Street Recovery Services Division illustrate the company’s loyalty to companies challenged to compete in increasingly competitive markets with smaller margins of error.

Balancing the finances of managing past-due accounts while maintaining consumer relationships is at the core of consumer-friendly collection processes that optimize recovery for creditors. Identifying and tailoring an individualized collection strategy cuts out waste and allows IC System to work in a state of efficiency that preserves its results. Collection associates are expertly trained in relevant laws and compliance policies (CFPB, TCPA, 501(r), etc.). They learn these regulations in order to effectively engage with past-due account holders in a manner that sustains a clear channel of communication, while at the same time they maintain a rapport with consumers throughout the collections process.

By being nationally licensed and bonded in all 50 states, IC System can pursue past-due consumers evading collections through its skip tracing initiatives, which demonstrate the company’s commitment to its clients. IC System’s unrivaled ongoing control and support offers its clients transparent access to service resources that keep them engaged and part of the collections process. KPI updates, Special Activity Reports, and 24/7 access to inventory though intuitive online tools reflect how the company works in tandem with its clients, treating them as partners. The bond formed between the company and its clients is indicative of the trust and reliability which has taken nearly a century to cultivate.

The abundance of resources and options that IC System offers to its clients showcases the complexity of needs that original creditors face when aiming to recover past-due balances. By gaining an understanding of how to navigate these unpredictable cases, creditors can feel secure in doing business knowing that the impact of potential losses has been mitigated.

Moving Onward

With the United States experiencing a tidal wave of increasing nonfinancial private debt, effective collections practices are invaluable to companies seeking to resolve their finances. At $27 trillion dollars, U.S. private debt exceeds even national debt. After 80 years, IC System shows no signs of struggling to keep up with the changing face of collections in the wake of endlessly increasing debt, while it also conducts business with integrity and the core principles that have proven to be the foundation for its success.

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