Toll Free 877·626·2776 or visit our website to find independent sales representatives. A good sales compensation plan is a win-win-win: It’s easy to implement and benefits everyone. Let’s look into the seven common types of enterprise organizational structures to help you decide how you want to develop your company and its various departments and teams. When beginning a new sales process consider having a new manager to oversee it. Engagement of Independent Review Organization Within 90 days after the Effective Date, Good Shepherd shall engage an entity (or entities), such as an accounting, auditing, or consulting firm (hereinafter “Independent Review Organization” or “IRO”), to perform the reviews listed in this Section III. 4. In many cases, sales organizations operate as “ISOs” under a Visa-approved. If Carrie sells $10,500 worth of products for the month, her commission is 10%. With more than 85,000 state-specific editable templates, US Legal Forms guarantees you will find the exact sample you require. Does not have access to the merchant cardholder data (CHD) An Independent Sales Contractor Agreement is a contract between parties where the independent sales contractor acts as an agent or representative in selling products and services on behalf of the principal. Managing your time well is crucial to being organized. Visa displays its registered and approved ISOs on the Visa ISO List. Employees may be grouped by their role or. The SBU example of Coca-Cola shows how effectively an organization can manage multiple subsidiary products that exist in the same industry. An independent software vendor, or ISV, is an individual or organization that develops, markets, and sells software solutions that run on one or more computer hardware providers. These people have to cooperate with each other as said by the sales manager to achieve set sales goals. Job Summary. You want to make a bigger impact. Let’s dive right in. Planning for the next month is one of the primary goals of writing the monthly report. Wyoming Hardware Purchase Agreement with an Independent Sales Organization. Europe-Georgia Institute head George Melashvili addresses the audience at the launch of the "Europe in a suitcase" project by two NGOs (the EGI and the Friedrich Naumann Foundation), which aims to increase cooperation between European politicians, journalists and representatives of the civic sector and academia with their counterparts in Georgia. Inclusion on the Registry. On August 27, FinCEN issued FIN-2014-R009, an administrative ruling clarifying that Independent Sales Organizations (“ISOs”) and exempt payment processors are not money transmitters subject to Bank Secrecy Act (“BSA”) regulations applicable to Money Services Businesses (“MSBs”). Increase conversion. Provide a specific termination date. An ISO is a company that processes third-party payments. For example, LLC owners should not use a personal checking account for business purposes, and should always use the LLC business name (rather than owner’s individual names) when working with customers. Without sales, companies grow stagnant—or worse, fail. Sales Organization Chart. And manufacturers sometimes find that high-value territories require more than a single one factory-direct salesperson to provide adequate coverage, which can double. This is going to be a lengthy and rigorous process so it’s best that you seek the help of a lawyer. An independent contractor provides goods, labor or services to another individual or organization. In a functional structure, organizations are divided into specialized groups with specific roles and duties. or use SAP Easy Access Menu Tree Menu Path: Tools > Customization > IMG > SPRO – Execute Project. As a merchant services agent, you are representing an issuing bank to sell their payment processing services. One popular model is the revenue commission model, which is popular for field sales organizations or companies that sell products with set price points. 501 (c) (1): Corporations Organized Under Act of Congress. Week 4: Pursue A-leads. Here are 5 things to keep in mind when planning yours. For most small companies, independent reps will be cheaper and better than an in-house sales force. A Line Sales Organization is one of the simplest forms where every individual is held accountable for their actions and decisions. Leaders can also use this metric to develop their overall sales strategy and come up with accurate forecasts moving forward. ISO stands for Independent Sales Organization. This can be modified depending on which organizational structure you choose (i. Under the Bank Secrecy Act, the term “bank” is defined in 31 CFR § 1010. 2. Click “SAP Reference IMG”. Payment processing agents who operate through independent sales organizations; Enrolled agents; Real estate brokers and salespersons licensed under those brokers are allowed under the California Business and Professions Code to negotiate contracts that designate the salesperson as either an independent contractor or an. According to a recent survey by McKinsey, an increasing share of organizations report using analytics to generate growth. The divisional structure tends to ease the tasks of each level of management. The Takeaway. Find the Right Partner. It is devolved into different departments, with each having its management, some of whom are located. As demonstrators they sign an independent contractor agreement to display and sell products as well. . This structure is organized by departments and expertise areas, such as R&D (research. 5. An Independent Sales Organization (ISO) is an individual or company that functions as the third-party intermediary between acquiring member banks and merchants, providing payment processing services to them. Table of contents Rebekah Carter Author. INDEPENDENT SALES ORGANIZATION STATUS Sample Clauses. If you’re looking for something specific, check out these lists: Best Direct Sales Companies in Canada. Independent sales organizations of all types rely heavily on technology to help them reach more merchants, deliver better service, and maximize residuals. Provide concrete examples from your past. Illustrative Examples: Independent sales representatives Manufacturers' sales representatives Cross-References. The earnings of a person who is working as an independent contractor are subject to. The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. You will see designations like FMO (field marketing organization) and NMO (national marketing organization) used interchangeably. The definition of Independent Sales Organization. A great business plan can guide you through every critical early step of building your company. This can help you identify areas to improve. For example, Bank of America offers merchant processing services. For example, if your business has particular requirements, the right ISO will help you find the specific service providers, hardware, and terminals you. Finding the right structure for your sales team depends on a number of factors. Independent Sales Organization (ISO) An independent sales organization (ISO) partners with an acquirer or processor to complete assigned tasks on the acquirer’s behalf. e. One popular model is the revenue commission model, which is popular for field sales organizations or companies that sell products with set price points. Sales goals are the benchmarks for your department, so they're the best place to start as you create a commission plan. Independent Sales Organization. Here are 23 such insurance marketing ideas that you can use to stand out in the industry. The formula for lead-to-sale % is: Lead to sale % = (Total number of sales / total number of leads) x 100. Comcast. 4. This helps you prepare for any challenges and predict your team's workload. Whether acquirers reach merchants via proprietary channels, independent sales organizations, or banks, they need to focus on industries. Next on our list of SWOT Analysis examples is Zara, one of the biggest clothing companies in the world. 1. An independent sales organization (or ISO) is a company that sells credit card processing services independently from a financial firm or bank. Dish. ISO acts as an intermediary between merchants and financial processors for credit, debit cards, and ACH payments. The 2014 Effie Index named Cramer-Krasselt the Most Effective Independent Agency in North America. ISO will sell or lease to Merchants all hardware necessary to participate in the Merchant Program, including any terminals or point. Photo: Steve Debenport / Getty Images. Bankers need to fully understand merchant processing and its risks. Sales goals are the benchmarks for your department, so they're the best place to start as you create a commission plan. ”Although independent sales organizations are often better positioned to provide more personalized care, there are a few things to consider before establishing an ISO partnership:. Independent sales organizations are a key part of the payments industry. You want to know which brand of fertilizer is best for your plants. 4. Here are two keys to a smart trial: Keep it short: The goal of a free trial is to help the right customers commit quickly to a paid plan. Independent Sales Organization (aka ISO) is a term used within the payment industry to identify a individual or organization that is not an Association (Visa & MasterCard) Member. Unlike payfacs, ISOs set up individual merchant accounts for each business they service. 2 min Updated: Jun 8, 2023. ISOs – Independent Sales Organizations; ISVs – Independent Software Vendors; VARs - Value Added Resellers; PayFac – Square or Paypal; When opting for a white label payments provider, work with someone having experience and a good track record of working with these business types. This sales plan template is divided into 12 months and separate product lines. Rather than maintain their own in-house teams for things like sales or customer support, many acquirers and processors will outsource responsibilities to an ISO. ISO Partnerships Features. Here's an example sales organization chart. If working as an independent contractor sounds appealing to you, here are examples of the best jobs to consider: 1. Takeaway: Your company culture doesn't have to be ping-pong tables and free beer. . Stephen Greet September 14, 2023. Keywords: Iowa, Hardware Purchase Agreement, Independent Sales Organization, terms and conditions, manufacturer, distributor, transaction, purchase process. I'd say roughly 30% of contractors are honorable and even they walk a fine line. Additional filters are available in search. Visit Charge. Representative shall be paid a commission on the sales of Products and/or Services to the Customers at the rate of 5% of invoiced amounts exclusive of freight, tax and on invoiced sales of Products and/or Services sold as a result of sourcing directed by a Customer. As you start your insurance company, your plan can help you refine your vision, set objectives, and define the details of your business. Likewise, sales organizations were ranked in segments in relation to sales training, i. Unlike the traditional sales model, the sales rep is responsible for all of the steps of the process, from generating leads to closing the deals and up selling. Sign on to a processing partner where they provide outstanding training and support. Simply providing employees with a sense of safety and well-being and creating a policy where everyone looks out. The smartphones department is responsible for its own actions. In this section, write the result achieving these goals will create for their organization. - Product benefits. An independent sales organization is ampere provider who connects retailer the credit card processing. It is a third-party payment processing company that is authorized to handle merchant accounts for businesses. This can be modified depending on which organizational structure you choose (i. Also known as a Merchant Services Provider, the merchant will accept the cards on behalf of one or many acquiring banks. This is where independent sales organizations or ISOs come into play. In essence, an ISO is the same thing as a merchant services provider. For example, an architect may join an architectural-based association to stay up-to-date on the latest trends in their industry and to network with other architects in their field. A consulting proposal is also a marketing document that shows why the consultant’s experience and skills make him or her the best fit for the job. In order to understand how ISOs fit. Option to purchase a starter kit ranging from $218-$729. Address the needs of nearly every industry, thanks to our comprehensive array of merchant transaction processing solutions. . Click the card to flip 👆. Strategy Consulting. Establishments acting in the capacity of agents or brokers that operate using the Internet or other electronic means instead of a sales force are classified in Industry 425110, Business to Business Electronic Markets. Franchisee: A franchisee is a small business owner that purchases the right to use an existing business's trademarks, associated brands, and other proprietary knowledge. Nonprofit organizations can use SWOT analyses to help inform their strategic planning. Independent Sales Organizations (ISOs) Need ISO Attorneys. Time-management skill s are highly beneficial for all inside sales representatives. Give your sales team a workable and attractive solution. In addition to paying an. Independent Sales Organizations (ISO) • ISO Merchant (ISO – M) – Conducts merchant account or transaction processing solicitation, sales, customer service, merchant training activities and / or solicitation and sales of POS terminals and / or mPOS devices. So the selling agent can get instant feedback from the prospective buyer. 6 Marketing Organization Structure Examples. Sales. Management Structure. INDEPENDENT SALES ORGANIZATION STATUS. They serve as their point of contact and lead from initial outreach through the making of the final purchase by them or someone in their household. In this article we will look at exactly how the Credit Card Associations of Visa and MasterCard define what an ISO is, how ISOs relate to the Associations and their member banks, how they are registered with them and what functions they performs. Related to Independent Sales Organization (. A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Independent Sales Organizations (ISOs) and Member Service Providers. Step 1: Understand the Basic Requirements of Good Sales Compensation Plans. After the advent of nonbank ATM operators, however, interchange became an important source of income for ISOs. com. List the goal category on the left, the action step in the middle, and a target due date on the right. Mary Kay. This can be one of the most expensive ways to structure a sales team. e. Definition of an Independent Sales Organization. When sales department is set up in an organization it follows one of these general structures – Line, Line and Staff, Functional. Hierarchical structure. Contact support. Many of simple linear regression examples (problems and solutions) from the real life can be given to help you understand the core meaning. 1. The ISO acts as an intermediary between the merchant and the payment processor, taking care of merchant recruitment, sales, and. The contract sales organizations (CSO) offer varied services, ranging from telemarketing to sales training, to field management and sales force deployment. The top 50 insurance companies employ sales forces totaling 626,917 across the industry, with an average sales volume per salesperson of $2,105,212. See moreRebekah Carter Author. Zara. 501 (c) (3): Charitable, Religious or Educational Organizations. To counteract that loss of control, companies try to devise attractive compensation schemes, as well as effective marketing strategies for the independent sales organizations and people with whom they work. The sales objectives you have for each sales team in an organization or sales company are sales goals. What is an independent sales organisation (ISO)? An ISO is a third-party company that is authorised to extend credit card processing services to businesses. June 2014 Compensation & Benefits Review. Zomaron was a registered independent sales organization (ISO) for the purposes of the Visa network and a member service provider (MSP) for the purposes of the Mastercard network. a is the point of interception, or what Y equals when X is zero. Finding the right structure for your sales team depends on a number of factors. Retention in the sales department is exceedingly low; average salesperson retention is just 18 months 1. An ISO, or independent sales organization, is a company that resells payment services to merchants on behalf of a payment processor or acquiring bank. 3. What it measures: The average sales amount of a customer contract over the course of a year. Most popular professional organizations are recognized nationally, and individuals who are part of these organizations are often looked on favorably by employers. • A High Risk Independent Sales Organization (HR - ISO) is an ISO that enters into a contract with an acquirer to provide merchant solicitation, sales, customer service, merchant transaction solicitation and/or customer training to “high-brand risk merchants. ), contactless payments, and. Here are seven example hypotheses you might use throughout your career: 1. Nailah Montalvo, the owner, identified a local need and. 501 (c) (4) , says: “A civic league or organization may be exempt as an organization described in section 501 (c) (4) if: It is not organized or operated for profit; and. Direct sales: Direct sales describes two independent seller models. This can be modified depending on which organizational structure you choose (i. It will often provide terminals to the merchants, as well as tech support, training, and customer service. e. Stage 3: Access and Develop Solution. Types of Organizational Structure. Create a free account, set a strong. In the United States, a group purchasing organization (GPO) is an entity that is created to leverage the purchasing power of a group of businesses to obtain discounts from vendors based on the collective buying power of the GPO members. 3. Regardless. Nonprofit Organization: A nonprofit organization is a business granted tax-exempt status by the Internal Revenue Service (IRS). 6 Marketing Organization Structure Examples. As agreed, upon between KGFA and REFERRAL AGENT REFERRAL AGENT shall remain in itself as an independent sales organization and or contractor. Functional Structure. Most privately owned ATMs dispense currency, but some dispense scrip (a paper receipt) that can be exchanged for. Managing Sales Compensation Across the Economic Cycle: Direct Sales Force Versus Independent Reps. g. When beginning a new sales process consider having a new manager to oversee it. These are designed to manage. 3 1. faydean. Compensation. Sales force ethics is considered to be a part of the _____ environment of organizations. We searched far and wide for the best company mission statement examples. Companies also hire sales managers. , starting at a base training level and placing companies at, below, or above that level in accordance with their sales training initiatives and processes. The growth was largely due to a renewed focus on supporting independent retailers in recent years following a period of. These terms depict a person or organization that isn’t a member of a Credit Card Association, like Visa or MasterCard, but has a connection with a member organization. The ISO could be an entire company or a single person who uses the. The term is derived from the merchant services and credit card processing industry but has evolved into business. Find out how you can apply to become their partner and follow their instructions to the letter. Growing businesses often choose to work with ISOs because they receive more personalized attention. The sprints can vary in length, anywhere from 30 to 90 days. Simply providing employees with a sense of safety and well-being and creating a policy where everyone looks out. Independent contractors typically do not receive the same rights afforded to employees and are responsible for. Base Rate Only Example. ISOs/MSPs are registered with Visa or Mastercard and must comply with various rules and regulations, including the payment network regulations established. Example 1: Many ISO sales people. BayView Entertainment has been leading low budget film distributors in this field for fifteen years across all film genres. 1. 10. Any sales over $200,001 earn them. Of course,. Marriott builds a hotel for $34 million and sells it to a banking firm for $52 million. seeking independent sales representation and independent sales reps seeking new lines to represent. ISO’s are typically small to medium sized companies, but can also be large companies which can be called a super ISO. This might not seem much, but you earn on every card transaction a merchant processes. In the event that COMPANY (i) either registers with the Card Associations for the purpose of becoming a merchant acquirer or changes its business prac. Stage 6: Implement,. Human Resources (HR) Consulting. Independent sales organizations are a key part of the payments industry. Over the past 20+ years, we have helped over 3,000 entrepreneurs and business owners create business plans to start and grow their insurance agencies. A good sales goal example is increasing your organization’s customer retention rate by a given percentage, say 13% in the next. A cartel is an organization formed by producers to limit competition and. The core of their business is selling merchants payment services on behalf of payment processors. Moreover, their planning is done separately from other businesses, and their goals are different. An independent sales organization, also known as an independent sales office, is an approved third-party organization connecting merchants with payment. Imagine a game-changing online platform that makes it simple for B2B self-employed sales agents and top companies to find each other, work together, effortlessly manage your partnerships and eliminate all of the mundane tasks that take your time away from selling. Always keep selling your reps on your products. Independent Contractor: An independent contractor is a self-employed taxpayer who controls his own employment circumstances, including when and how work is done. It outlines how the consultant would handle a specific project. Function structure refers to the sales organization structure that focuses on specialization within the marketing team. The most popular kinds, however, are the following: Sole proprietorships are an example of ordinary small businesses. Example 1: Fuel Treatment. An overview of individual development plans with complete examples. Toll Free 877·626·2776 or visit our website to find independent sales representatives. Sales organization structure consists of formal and informal relations among the group of people. Independent contractors are not. By aligning together, sales and marketing teams can bolster sales by focusing on top-quality prospects. These include provider networks, provider oversight, prescription drug tiers, and more. Mary Kay. The Seattle-based. Dr. Red Bull and GoPro. ISOs Resell Merchant Services. The fastest way to redact Hardware Purchase Agreement with an Independent Sales Organization online · Sign up and log in. Jul 19, 2023 — Independent sales organizations (ISOs) are a growing presence in the world of payment processing. The basic distribution channel. This can be one of the most expensive ways to structure a sales team. To get started with The Cocoa Exchange, you’ll need to buy a Business Kit for $129 plus tax. Executive Vice President of Sales: Executive vice presidents of sales are responsible for overseeing all areas of the company's sales department such as training, marketing &. When determining which type of organization to take on, there are several factors that should be taken into account. Why it’s important: ACV helps sales reps and managers identify opportunities for upselling and cross-selling that increase customer contract value and, ultimately, company revenue. ISOs September 22, 2022 The payment processing industry is full of opportunities for entrepreneurs looking to help merchants get set up with the right payment processing for. 3. An independent sales organization offers not only the payment systems to process electronic card payments but also other services that can help a business refine their sales tactics. Independent sales organizations (ISOs) are third-party organizations that partner with acquiring banks to find, open, and manage merchant accounts on behalf of such businesses in exchange for a higher fee, or for a percentage of the merchant's sales. This should. Enhance rating and reviews. Matrix Structure. channel captain: A channel captain is the individual or organization responsible for managing a particular distribution channel and overseeing channel partnerships. operator customers, including those that are Independent Sales Organizations (ISOs). Sales reps who work with high-ticket items typically take on a consultative role, ensuring that the process runs seamlessly and that. Operating across multiple industries, ISOs can represent anything from financial. By creating roles and outlining duties, you're able to move prospects effectively through the sales pipeline. There are different types of organizations that a company can adopt, such as functional, flat, matrix, and divisional organizations. The pandemic-induced shift to online and contactless payments has been a boon for credit card providers and their sales agents. In the nonprofit sector, the term "foundation" has no precise meaning. com. For example, if you are announcing a promotion, share the old role the employee had before sharing the new role. 10. [1] : 6 In a narrower sense, the term refers only to those independent agencies that, while considered part of the executive branch. Example: A salesperson's base commission is 5% up to a total of $100,000 in sales. Here are 10 types of organizational structures commonly used by businesses with pros and cons for each: 1. Here are the steps we will take over the next quarter: Increase revenue goal by 5%. An Independent Sales Organization, or ISO, is an institution or a legal entity closely collaborating with Mastercard or Visa banks. ISOs have relationships with acquiring member banks, and this allows them to provide merchant services to their customers. To calculate tiered commission, multiply the sales by the commission rate. 10 high-paying independent consultant companies. management contract. By creating roles and outlining duties, you're able to move prospects effectively through the sales pipeline. And manufacturers sometimes find that high-value territories require more than a single one factory-direct salesperson to provide adequate coverage, which can double. To test this, they conduct an. ANTI-AGING DIRECT MARKETING AND SALES. The first step toward creating an effective organizational structure is to understand each department's key purpose. 10) to get $1,050. 2 million (up by almost 12%). After all, lots of little wins can lead to your team’s even fiercer desire to land humongous ones. Choosing the Right Nonprofit Type. ”Acquirers, PSPs, facilitators, and aggregators are just a few of the payment organizations related to a merchant’s banking services. Examples. Source: Lucidchart Independent certifying organization means an independent organization that meets the agency's criteria for documenting applicant's training in topics set forth in 12VAC5-481-1320 or equivalent agreement state or NRC regulations. Types of Sales Organizations and their Structure. The better you're able to manage your time, the more time you'll have to speak to other clients and hopefully make additional sales. The satisfaction of being your own boss. Full Cast Audio—compete with the big brands. I’ll address in this article merchant account providers and the role of independent sales organizations. Those strategic business units often have their own visions, missions, objectives, and course. Some of the best direct sales companies to join include recognized brands like Avon, Mary Kay, Perfectly Posh, Color Street, WineShop, Tupperware and lots more. Payment integration, for example, allows you to have all incoming sales automatically recorded in your favorite accounting platforms. Sales Organization Configuration > Accessing Customizing. Customizable Merchant Services Agent Program designed for independent sales organizations who want to build a more profitable business. Here's a list of some signs you should become an independent consultant: 1. Functional structure. 3. Formation: To form an LLC, you must pay a filing fee ($100-$800) and must have articles of organization when at the time the entity is. UpCounsel accepts only the top 5 percent of lawyers to its site. To calculate tiered commission, multiply the sales by the commission rate. Contact sales. Per its website, it has partnerships with: Amazon. For a large organization, this might look like a marketing leader – let’s say. 4. Payment Facilitator vs ISO. Independent sales organizations are a key component of the overall payments ecosystem. Because of this complexity, there is a need to manage the relationships between the buying and selling organizations, for example using Peter Cheverton's relationship models and the stakeholder map by Anderson, Bryson and Crosby; Channel sales, an indirect sales model, which differs from direct sales. Subscribe and get access to reusable samples today!ISO (Independent Sales Organization) – This is basically the credit card processor, the company that serves as the middle man between the credit card companies and the merchant. An ISO is similar to an independent insurance agency. Independent Sales Organizations, or ISOs for short, are third-party companies that aren’t banks themselves but are contracted by credit card member banks to procure new. ISOs and PFs may occupy similar space, but their fundamental differences set them apart from each other. The owners of privately owned ATMs, known as Independent Sales Organizations (ISOs), can be large-scale operators or single ATM owners where the ATM is located in the establishment controlled by the owner. The last thing you want to do is create confusion with your termination letter. seeking independent sales representation and independent sales reps seeking new lines to represent. This business transaction is known as. Here's what ISOs are, whereby they works and why you'd need neat. The states with the most Selling Power 500 companies are California (63), New York (49), and Illinois (40). That commission increases to 7% for total sales between $100,001 and $200,000. Third-party settlement organizations charge sellers a fee for facilitating the transaction. Step 3. That commission increases to 7% for total sales between $100,001 and $200,000. It transfers the data between the point of entry – either a terminal, website, or mobile device – to the payment processor to. Each division would have its own advertising, sales, production, clerical, accounting, and development staff. A well-drafted Independent Sales Representative Resume makes a mention of the following duties and. Tech companies often use monthly sales bookings as a prime metric to track the value of their wins. Improving Productivity and Collaboration at Microsoft. Here’s a look at how four companies are aligning with that trend and applying data insights to their decision-making processes. IMO is short for “independent marketing organization. It's important to create alignment so that all of the sales processes are accounted for. Provide your sales team with the information, assistance, and training they need to win customers without avoiding PCI. Success Metrics. The PF may choose to perform funding from a bank account that it owns and / or controls. This will provide background information as the plan drills down into specific details. These sales often happen among artisans and small business owners. 7 Accountabi lit y. Done right, it can help you secure investors, financing, and more. Passionate about technology and its possibilities, Paul aspires to create. The ecosystem is made up of thousands of partner ecosystems all connected. Identify your strengths and weaknesses. They are owned by single individuals who are liable for all business transactions, debts, and lawsuits, unlike LLCs, which protect owners from some legal complications; Partnerships, also one of the most popular types of small. In the first or second paragraph of your letter, make sure you’ve included a specific termination date that aligns with any relevant contractual obligations. 8 Types of Business Organizational Structures [+ Free Downloadable Org Charts] Large or small, every organization should operate with a defined organizational structure. 1. Google Play. Example of how to structure a sprint over time: Week 1: Train the team on use-cases and role-play a variety of scenarios. Indirect sales may be used in conjunction with a. An IMO partners with the carriers they choose to represent (some as few as three or four, but others with dozens of carriers) and contracts directly with those carriers to sell their insurance products. A Sales Representative is a professional who initializes and manages relationships with customers. Click “SAP Reference IMG”. Identify one potential business opportunity and create a plan for approaching them. Independent Contractor: An independent contractor is a self-employed taxpayer who controls his own employment circumstances, including when and how work is done. Sales Organization Configuration > Accessing Customizing via Menu.