Closing the Books: Affordable Debt Collection Services with InstiCollect
When it comes to finding solutions that are seamless and proactive in the debt collecting sector, IC System has found one innovative answer. This episode of Closing the Books, host, Tyler Kern, spoke with Bryan Campbell, Business Development Manager at IC System, about one new method of managing accounts receivable that leads to affordable debt collection.
“We strive to make debt collection better,” Campbell said. “We saw a real need in the marketplace for a segment of the business that was underserved … we feel that with innovation being one of our core values at IC System we see a business segment and identify a product that might be able to deal with the problems … taking what we’ve done for 80 plus years in a new modern way.”
Their new method, called InstiCollect, is a two-phased approach that allows members to get going and, as soon as debt is placed in the system, through their newly enhanced client portal system, within 24 hours, IC System will begin activity, Campbell emphasized.
“You’ll see skip tracing, we’re going to send letters; if emails are available, we are going to make outbound phone attempts up to 31 in the first 120 days based on our modeling and scoring … credit reporting on accounts 50 and above, based on eligibility, and they’re going to be using the client portal to see and view all of our collector’s notes, and at day 81 we’ll roll into the second phase and within that, there’s credit monitoring, non-litigation attorney referrals, we’ll send letters and have communication come back that way … it’s a really strong two phased approach that will help resolve accounts in a quick manner,” he said.
InstiCollect is available for all industries from property managers to dental practices, small physician groups, veterinarians, and law firms. Its goal is to fit across the board within each industry.
It’s important to note, “the collection professionals who work these accounts are the best in the business, and we train them internally with the best and most innovative resources … we do believe we are the first agency to take on something like this … when I look I don’t see another who can take a client and bring them from A to Z without some level of engagement,” he said.
“We foresee a strong uptick in interest as we launch,” Campbell added.