IC Systems was founded in 1938 by the joint effort of Ruth and Jack Erickson. IC Systems has seen three generations of the Erickson family and their ownership. For several decades, IC System has been the lead of innovation in the accounts receivable recovery industry. In 1968, IC systems were the first collection agency in the U.S. to introduce computers in the work field. The company provides collections for consumer and general accounts from novice to seasoned stages of the revenue management cycle. Today, they remain on top by following the latest regulatory and compliance standards. IC Systems utilize state-of-the-art collections to maintain their status as the most secure collection agency around the globe (https://www.nhms.org/content/ic-system).
There are many agencies who are not licensed everywhere and should not be able to collect on consumers who leave the state where service was provided; several companies may put your business at risk by attempting to collect accounts knowing they are not licensed. To enhance the compliance effort, IC Systems maintain a Director of Internal Audit to assist in necessary audits. Every quarter, IC Systems is honored with a Core Values Award that recognizes individuals who best showcase one or more of the companies’ values.
IC System’s collection auditing details their process by starting with an assessment and then validating all required policies that exist for the company, the policies are clearly described, and the staff has been trained to professional and efficiently address audits. The Audit Committee for the company consists of a Chairman, President & CEO, CFO, Chief Compliance Officer, and Director of Audit. The compliance process for IC Systems maintains a robust Compliance Risk Management that includes extensive auditing.
IC Systems has gained over millions of clients which include beyond several hundreds of small entrepreneurial businesses who are a part of the professional associations endorsing the company and its services today. Many of these companies associated with IC Systems are a part of the Fortune 500 companies’ start-up. The company has made its legacy with advanced technology, emphasized encrypted data, and the ability to have Intelligent Collections that manages to upgrade client performance.