FAQs

General Information

 

What is ICE?

The ICE Credit Exchange is a set of data analytic tools and credit exchange groups used to assist credit departments in making the right decisions for better business performance.

 

Is my data secure?

ICE uses the same security systems and encryption methods (PGP File Security and SSL 256 bit encryption) that the world’s largest financial institutions use to ensure air-tight security. We understand that part of your due diligence is to ensure your data remains safe.

 

Who owns the data found in ICE?

The data found in ICE is owned by those who provide it. It is solely for the use of the credit department and the credit exchange group. It is not sold or shared with any other group or company.

 

Who has access to ICE?

ICE is only available to authorized credit professionals. When your company signs the ICE contract, you are agreeing that ICE will only be used by the credit department for appropriate credit decision-making. Anyone found in violation of these policies will be immediately removed from the credit group, as well as the ICE system.

 

Getting Started with ICE

 

How is my data added to the system?

Our members will receive the data specifications necessary to import your information into the ICE system. Ultimately, you upload an Excel or comma-delimited file through an FTP server.
 

How much does ICE cost?

ICE is a competitively priced solution with customizable levels of membership. 

Can I join an existing credit group?

Yes. More members means better data. We’ll work with you to determine if any existing groups meet your needs. 

 


Credit Groups

What is a credit exchange group?

Each industry credit exchange group is powered by relevant member data, antitrust guidelines, best practices, and networking.  This data exchange provides the platform to make important credit decisions.

Where does the ICE data come from? How often?

The data found in ICE is from the individual credit exchange group members. Each credit group establishes the rules of how often the data is updated and shared. Most are required to transfer at least twice a month, but there are a good number of members who upload either weekly or daily.

 

What type of data is contributed to ICE?

ICE collects standard data for credit groups, such as “Sold Since,” “Recent High,” “Last Activity,” and account contact information. Members also contribute account balances – not sales figures.

 

Is there a list of companies participating in the credit groups?

Membership in ICE is confidential. Member contact information for participating companies is exchanged within each group.

 

Service Center

 
What is the ICE Service Center?

The ICE Service Center provides past-due account recovery support services such as letter, email and phone call generation. You control the content and can automate some or just parts of this service.
 

Is there an additional cost to use the Service Center?

There is no set pricing scheme for the service center. ICE service center is flexible and can be customized to meet your needs. Please contact ICE Support for more information at 800-527-1404 or email us at ICESupport@icecreditexchange.com.

 

How does the Service Center work?

The ICE Service Center uses the data files you load into the system. From here, ICE uses the parameters you've set to monitor your accounts and creates a list of those that fit the criteria. You have the option to monitor these accounts or set ICE to automatically take action for you.

 

Credit Reports

 

How does an ICE report differ from a standard credit report?

The information is industry-specific, so the data is pertinent and useful. Members upload their information monthly, bi-monthly, weekly, or daily, so you are able to see the freshest data available from your group.

 

What information is available on the ICE Credit Report?

It’s easy to customize an ICE report to generate the specific data windows you want to see -- account information, A/R snapshot, historical A/R, risk alerts, and recent inquiries. Portfolio members will see additional information such as a credit score and five-year trend graph.

 

How is the A/R Snapshot different from the Historical A/R?

Historical A/R is a powerful tool that helps you dissect data for an accurate picture of payment trends and credit history up to three years. The A/R snapshot provides you details of where the account stands today.

Other Credit Group Facilitators
I am a facilitator of an existing credit group outside of ICE. How do I get started?

ICE would be happy to work with you on creating a customized licensing agreement to serve your needs. We have successfully worked with a number of outside groups, bringing them onboard in less than 30 days. To get started contact ICE Support at 800-527-1404 or email us at ICESupport@icecreditexchange.com
 

How can ICE benefit my credit exchange group?

ICE was designed by credit professionals to take advantage of the internet to streamline and improve the way industry groups exchange data. You will find ICE gives you fresher, faster credit data at a reduced cost compared to other solutions.

 

As an existing credit group, we need a new data solution, but we like our facilitator.
Can we still subscribe to ICE?

Yes. While ICE already has several partners who facilitate industry trade groups, we are always looking for new partners. We will work with your facilitator to set up a licensing agreement.

 

 
 
 
 
 
 
ICE Credit Exchange

The ICE Credit Exchange is a set of data analytic tools and credit exchange groups used to assist credit departments in making the right decisions for better business performance.

icesupport@icecreditexchange.com

800.527.1404

PO Box 480108

Kansas City, MO 64148

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