A Story about Why Your Business Needs a Collection Agency

collection-agency-ic-system

I recently discovered that most small businesses don’t realize the importance of working with a collection agency. A friend of mine, let’s call her Daisy, is a master gardener, and she runs a landscaping and custom gardening business. She likes working outside and having the freedom to accept jobs whenever she wants. Like a lot Read more…

IC System’s New Survey Listens to Consumer Feedback

csat ic system

IC System has a new consumer survey known as CSAT, short for Consumer Satisfaction. This post-call survey helps IC System gauge whether consumers who have been submitted into collections feel that our company’s representatives have met their needs and treated them with respect. The survey, unprecedented in the collection industry, asks consumers for their feedback Read more…

New Cybersecurity Breaches, New Reasons to Check Your Security Posture

cybersecurity-breach

A number of recent security breaches serve as a reminder that your cybersecurity posture should be a primary concern for your office, regardless of your business’ size or industry. A medical group in California recently had the protected health information of nearly 200,000 patients exposed because of a computer virus. It’s a story that stresses Read more…

Let’s Be Honest About Debt Collection

collection-agency ic system

One of the most complained about industries in the United States is debt collections according to the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB). No one wants to be called by a debt collector, even if there’s a legitimate reason for the call. The nature of the situation is bound to Read more…

Go after bad debts without ruining the good vibes

customer-relations

Reminding your customers to pay their bills is the right thing to do, but it can be an awkward task. Bungle the message, and it’s sure to damage the relationship. Still, in any relationship, setting expectations of the other person is always the healthy thing to do. For you, that means setting the expectation that the Read more…

Collection agencies, the FDCPA, and you: Safeguarding customer info

secure-consumer-information-ic system

One thing business owners think about is protecting consumer information. When it’s time to turn late accounts over to a third-party debt collector, you may be wondering what happens to that information and what they do to keep it safe. The short answer: Go in with high expectations. Because a reputable, quality collection agency may Read more…

Collecting in-house vs. a collection agency: Does it make financial sense?

collecting-in-house- IC System

Focusing on past-due accounts is the most important component of accounts receivable management. In order to recover accounts receivable, the path to success is setting up a system where late-paying customers get reminders and those reminders are consistently administered. This alone may raise the question of whether your firm should keep the collection efforts in-house or Read more…

How customer segmentation can optimize your accounts receivable

customer-segmentation-2-ic-system

If you’re looking for a way to optimize your accounts receivable, customer segmentation is one strategy you’ll want to adopt. The idea behind customer segmentation is using their past behavior to help you decide how to respond if they fail to pay you on time. Taking this strategic approach to accounts receivable management will help Read more…