After 50 Years, the International Collectors Group is Still Running Strong

Change is happening at an astounding pace for the accounts receivable management (ARM) industry.  Last year when the International Collectors Group (ICG) met on Marco Island, FL, American collection agencies were embracing student loans as the most desirable growth market. With more than $1 trillion in debt and a lucrative, long-term contract on the verge of being awarded, dozens of agencies were participating in the extensive procurement process.

Fast forward one year. The new contract still hasn’t been presented and five top-performers on the current unrestricted contract have been terminated. A vibrant and lucrative market segment has quickly changed course and a lot of agencies are now questioning their own survival.

It’s comforting to know there are still some constants like ICG in the ARM industry. The group celebrated its 50th anniversary this year in Prague. Dennis Punches, the former CEO of Payco American, started the group in 1965 with a simple premise: bring 10 men tasked with running the largest collection agencies in their regions together and have them discuss key topics without any agenda or committees.

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