Indirect sales refer to the the sale of a good or service by a third-party, such as a partner or affiliate , rather than a company's personnel. It divides the sales team into groups with specific tasks, roles and responsibilities. The growth was largely due to a renewed focus on supporting independent retailers in recent years following a period of. Pankaj M. 10. Monthly sales bookings. Additional filters are available in search. The ISO could be an entire company or a single person who uses the. Equal employment opportunity legislation: Directly affects how sales managers implement their sales programs. 10 Commission: 15% to 50% of each product you. Here are several examples of independent and dependent variables in experiments: In a study to determine whether how long a student sleeps affects test scores, the independent variable is the length of time spent sleeping while the dependent variable is the test score. DIRECT SALES COOKING & BAKING COMPANIES. Here are 10 large companies and small operations offering high-paying opportunities for independent consultants: 1. After the advent of nonbank ATM operators, however, interchange became an important source of income for ISOs. Instead, sales occur at home, work, online, or other non-store locations. Here's an example sales organization chart. 3. Target and Lilly Pulitzer. Next on our list of SWOT Analysis examples is Zara, one of the biggest clothing companies in the world. An Independent Sales Organization, ISO, within the business lending space is a company that operates as an intermediary between business owners and the funding companies that provide capital directly to them. The Takeaway. As the name suggests, they’re independent operators who often work with multiple payment providers to find the right solutions for their. It is the most common type of organizational structure. After all, lots of little wins can lead to your team’s even fiercer desire to land humongous ones. 6. It's important to create alignment so that all of the sales processes are accounted for. This might not seem much, but you earn on every card transaction a merchant processes. In 2023, 80%+ of potential clients will look at your website before doing business with you. Types of Sales Organizations 1) Line Sales Organization. Independent Sales Organization (“ISO”) Provision. The merchant processing business of these banks is intensely competitive, with aggressive pricing. Distribution channel examples in business to consumer markets include: Manufacturers sell their products directly to retailers, using their own sales force. Identify your strengths and weaknesses. Team 2 focuses primarily on demand. Review annual sales goals. Sales Representative job description. Examples of Independent Sales Organizations in a sentence. That commission increases to 7% for total sales between $100,001 and $200,000. Customizable Merchant Services Agent Program designed for independent sales organizations who want to build a more profitable business. It is devolved into different departments, with each having its management, some of whom are located. Jurisdiction. Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910. Choosing the Right Nonprofit Type. 1. As you start your insurance company, your plan can help you refine your vision, set objectives, and define the details of your business. Start by considering: Your budget: A bigger budget will allow you to invest in a larger, more specialized sales model like the pod or assembly line model. Benefit from their experience. Social and cultural. A summary of your compensation plan must fit on a single page. . Once they achieve their revenue goal, their commission increases. Perhaps you’re wondering how working with an ISO is different than signing up for a merchant services provider such as Squareor Stripe. Collect valuable feedback. Role of Independent Sales Organizations (ISOs): ISOs are third-party entities that handle payment processing and merchant accounts for businesses, serving as intermediaries between acquiring banks and. 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. Just be sure to time your strategic alliances and choose your partners wisely. June 2014 Compensation & Benefits Review. An ISO is a company that markets acquiring services to merchants on behalf of an acquiring bank. 4. 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. T-Mobile and Taco Bell. Planning for the next month is one of the primary goals of writing the monthly report. Features of a Funnel-Focused Organization. Improving Productivity and Collaboration at Microsoft. 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. What Exactly Is an Independent Sales Organization? Simply speaking, an ISO—or Independent Sales Organization—is a third-party payment processing company that is authorized to handle merchant accounts for businesses. Non profit organizations will need an IRS Determination Letter recognizing an organization as a 501(C)(3). 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. • 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. The direct selling channel differs from broader. If you partner with. It's helpful to first identify and analyze your sales skills, including your strengths and weaknesses. com or call (888) 924-2743 to see how an internet merchant account can improve a business of any size as well as browse options for software and. The SBU organizational structure allows them to make critical decisions and manage investments, apart from overseeing manufacturing and delivery. Multiple front-end processing options. Give your sales team a workable and attractive solution. A Line Sales Organization is one of the simplest forms where every individual is held accountable for their actions and decisions. As a merchant services agent, you are representing an issuing bank to sell their payment processing services. However, ISOs provide more options for merchants to choose from and serve those who might. Hierarchical structure. Look at the ‘future considerations’ page of this monthly report template. Sales Organization Configuration > Accessing Customizing. Drew Albermarle. 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. You are registered for sales and use tax and want to register for meals and withholding. ” Encryption Support Organization (ESO) Performs cryptographic keyIndependent Sales Organizations (ISOs) act as intermediaries between merchants and their banks, essentially reselling the services of processors. The core of their business is selling merchants payment services on behalf of payment processors. For example, if you sell software and know sales tend to decrease in a specific month, you can advise your indirect sales partners to increase their efforts. Marketing Consulting. 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. 4. Independent contractors typically do not receive the same rights afforded to employees and are responsible for. These goals show the sales team where the business wants to go and how they can help get it there. Understanding the department's overall goals and values can help you develop a structure that supports its mission. 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. “ Build the best product cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis. Try Private Contract Repository. 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. A stylish table format is effective for communicating goals and action steps which are both important parts of an IDP. Management Structure. Simple hypothesis. Since we’re using Google Sheets, its built-in functions will do the math for us and. A good sales compensation plan is a win-win-win: It’s easy to implement and benefits everyone. Also known as a Merchant Services Provider, the merchant will accept the cards on behalf of one or many acquiring banks. 10, and you can offer it to merchants for 2. One of the best things about the strengths you identified in your SWOT analysis is that you’re already doing them. Team 3 manages product collateral for the sales team and the production of anything that carries the Forrester brand. 7, is among the earliest and most used organizational designs. The commission rate is 25%-35% of the products sold. 2. If you want to understand how to build a great SaaS sales organization, you should read Mark Roberge’s The Sales Acceleration Formula. Mastercard Rules. Indirect sales may be used in conjunction with a. e. Select a sales org value, and enter a name for the new sales organization that matches the value. That includes Macintosh, operating systems like iOS, or cloud platforms like Amazon Web Services. Bankers need to fully understand merchant processing and its risks. BayView Entertainment has been leading low budget film distributors in this field for fifteen years across all film genres. If working as an independent contractor sounds appealing to you, here are examples of the best jobs to consider: 1. One popular model is the revenue commission model, which is popular for field sales organizations or companies that sell products with set price points. ISOs often. 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. 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. Direct selling is selling products directly to consumers in a non-retail environment. 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. An independent agent receives. Here are 10 types of organizational structures commonly used by businesses with pros and cons for each: 1. Encouraging the Best From the Sales Team. Here is. An ISO is a company that processes third-party payments. ISOs are involved with things like terminal purchases or leases, customer service. Been selling door to door for about ten years and can say a majority of contract sales people, while they don't outright lie, tend to not tell the whole truth. Functional Structure. Some GPOs are. Examples of Independent organization in a sentence. Oh, and the above example is not the worst provision you are likely to encounter, not by a long shot. Jul 19, 2023 — Independent sales organizations (ISOs) are a growing presence in the world of payment processing. 3. Google Play. Single-level marketing: A direct seller makes money by buying products from a parent organization and selling them directly. Leaders can also use this metric to develop their overall sales strategy and come up with accurate forecasts moving forward. This can be one of the most expensive ways to structure a sales team. Independent variables in an organization are the circumstances of the work environment that can create change in employee behavior, causing the dependent variables to shift. , by geography/territory, product/service line, customer/account size, or industry/vertical segment). It is devolved into different departments, with each having its management, some of whom are located. Indirect sales incur costs only from the revenue taken from your profits. Illustrative Examples: Independent sales representatives Manufacturers' sales representatives Cross-References. Independent sales organizations are a key part of the payments industry. 501 (c) (3): Charitable, Religious or Educational Organizations. Each one has its own pros and cons that you should consider before implementing any of the structures in your business. 1. ISO stands for Independent Sales Organization. If her sales are $26,000, her commission rate is 12%. Marriott charges the banking firm 2-4 % of gross revenues to operate the hotel. This helps you prepare for any challenges and predict your team's workload. Essentially, a MID serves as a unique identifier for each business that accepts debit or credit card transactions. This business transaction is known as. Then either press F5 or in the next screen. 2% + $0. It’s easier to provide your team with a competent and accessible PCI expert than to attempt to train each of them individually. Business Management. . In this section, write the result achieving these goals will create for their organization. By creating roles and outlining duties, you're able to move prospects effectively through the sales pipeline. The organizational structure at a retail store starts with the store manager on top, and assistant store managers being responsible for the different aspects of brand and capability inside the store. Panasonic and Coca-Cola are examples of. D. 3. Indirect sales may be used in conjunction with a. Equal employment opportunity legislation: Directly affects how sales managers implement their sales programs. Monthly sales bookings. Address the needs of nearly every industry, thanks to our comprehensive array of merchant transaction processing solutions. A sales organization that is the third party and that works by signing up merchants to accepts credit cards. The report will likely be studied by regulators, congressional committees, financial institutions, and other. Growing businesses often choose to work with ISOs because they receive more personalized attention. An independent sales organization, also known as an independent sales office, is an approved third-party organization connecting merchants with payment. Madhani. In the period between 2012 and 2017, independent retail sales grew 56%. Cell: 000-000-0000. An ISO is a company that processes third-party payments. On this page, we will first give you some background information with regards to the importance of business planning. It transfers the data between the point of entry – either a terminal, website, or mobile device – to the payment processor to. Pankaj M. Definition of an Independent Sales Organization. The ecosystem is made up of thousands of partner ecosystems all connected. 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. Of course,. 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. 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. Just as there are various sales methodologies that help reps navigate your sales process, your incentive program should empower reps to play to their strengths. midsize banks, which often use the services of independent sales organizations or membership service providers (ISO/MSP), join partnerships or alliances, or enlist agent banks. And manufacturers sometimes find that high-value territories require more than a single one factory-direct salesperson to provide adequate coverage, which can double. Payment Facilitator vs ISO. , by geography/territory, product/service line, customer/account size, or industry/vertical. ISOs, or independent sales organizations, are companies that aren’t officially part of the cardmember associations like Visa or MasterCard but have developed partnerships with. Here's an example sales organization chart. 4. What’s the Difference? Before payment facilitators began enabling smaller merchants to accept payments, acquiring banks relied on another. Hierarchical structure. Independent Sales Organizations (ISOs) Need ISO Attorneys. 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. In many cases, sales organizations operate as “ISOs” under a Visa-approved. A Merchant Services Agent, a Member Service Provider (MSP), also known as Independent Sales Organization (ISO), is used interchangeably within the payment processing industry. ISOs are alternatives for large banks, providing the same level of service for business owners. This will provide background information as the plan drills down into specific details. SAP Definition – organizational unit in an organization that represents a closed system used for cost accounting purposesAre you looking for independent sales reps? Call U. This can be one of the most expensive ways to structure a sales team. 100(d) and includes each agent, agency, branch, or office within the United States of, inter alia, commercial banks, trust companies, savingsA typical consultative sales process is made up of six stages. Madhani. A good tip for writing the organizational change announcement is to review the old procedures and share the new ones in the document. Not only will your sales grow, but your productivity will, too. It's important to create alignment so that all of the sales processes are accounted for. Regardless. Select the currency, the cluster that sales organizations belongs to, and the distance unit to be used for the sales. A great business plan can guide you through every critical early step of building your company. To get started with The Cocoa Exchange, you’ll need to buy a Business Kit for $129 plus tax. ISO acts as an intermediary between merchants and financial processors for credit, debit cards, and ACH payments. If upselling or cross-selling are not possible (due to product. With the insights generated by the hub, sales leaders can use advanced intelligence to better align sales reps to the right sales opportunities, pulling the right people in at the right stage of a deal, assembling teams with the necessary skills to innovate and design products and services that customers want,. branding. The term “managed care” is used to describe a type of health care focused on helping to reduce costs, while keeping quality of care high. Centralized, decentralized, linear, horizontal, traditional, matrix… there are several organizational structure examples, and each one is better suited to a particular business type and process model. Outsourcing the sales function(s) means that a company will lose some control over its sales activities. 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. Step 3. , starting at a base training level and placing companies at, below, or above that level in accordance with their sales training initiatives and processes. Provide concrete examples from your past. For most small companies, independent reps will be cheaper and better than an in-house sales force. It is a third. These include provider networks, provider oversight, prescription drug tiers, and more. Let’s use the table above as a reference for this example. . Create a free account, set a strong. Contact sales. Payment integration, for example, allows you to have all incoming sales automatically recorded in your favorite accounting platforms. Author: Bob Adams is a Harvard MBA serial entrepreneur. Learn more about The Cocoa Exchange. Does not have access to the merchant cardholder data (CHD)Cloned 63. Incorporating a free trial into your company’s sales strategy can lead to massive gains in paid signups—if you do it right. You want to know which brand of fertilizer is best for your plants. Role-specific incentives. Insurance Agency Business Plan Template. Broad goals are sometimes difficult to assess. A well-planned sales organizational structure facilitates accountability and harnesses each salesperson's skills and expertise. Card Brands What is an ISO? ISOs, or independent sales organizations, are companies that aren’t officially part of the cardmember associations like Visa or MasterCard but have developed partnerships with acquiring member banks to provide merchant accounts or other merchant services to members. This Breaking Into Device template above is an example of the 30-60-90 plan in that it focuses on the long-term goal of change at the end of three months. Management Structure. They find and recruit new merchants and sell them processing and various services on behalf of major payment processors. Researchers want to know if a new fuel treatment leads to a change in the mean miles per gallon of a certain car. An independent sales organization (or ISO) is a company that sells credit card processing services independently from a financial firm or bank. Starbucks: Inspire and nurture the human spirit – one person, one cup and one neighborhood at a time. 1. Outsourcing the sales function(s) means that a company will lose some control over its sales activities. If Carrie sells $10,500 worth of products for the month, her commission is 10%. What Merchants Should Know about ISOs. But with a good sales department, a company can truly thrive. The divisional structure tends to ease the tasks of each level of management. Stephen Greet September 14, 2023. 1. Tech companies often use monthly sales bookings as a prime metric to track the value of their wins. This is where independent sales organizations or ISOs come into play. They find and recruit new merchants and sell them processing and various services on behalf of major payment processors like TSYS, Worldpay, and BAMS. 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. A sales organization that is the third party and that works by signing up. . This agreement should contain: The names and addresses of both parties. Two entities may perform a broadly similar service while one takes the position it is a third party settlement organization, whereas the other does not. The sales manager has a crucial role in this organization in activities such as hiring quality talent, giving proper training, assigning. The first step toward creating an effective organizational structure is to understand each department's key purpose. Centralized, decentralized, linear, horizontal, traditional, matrix… there are several organizational structure examples, and each one is better suited to a particular business type and process model. Keep it Simple. Data integrity is increased when ______. Then you have your sociopathic sales reps that will outright lie to make a sale. The Best Direct Sales Companies to Join. This can be modified depending on which organizational structure you choose (i. Decision-making. Independent Sales Organization (ISO) An independent sales organization (ISO) partners with an acquirer or processor to complete assigned tasks on the acquirer’s behalf. 2. A payment gateway is the “virtual” equivalent of a physical credit and debit card reader. Remove Advertising. As one of our sales reps, you take the initiative in finding potential customers, developing client relationships, and guiding clients through the sales process to find the product or service that can best satisfy their needs. The complexity of a hypothesis often varies, depending on its purpose. Usually, an organization which is an ISO is also an MSP, but these are not the same thing and. Functional/Role-Based Structure. Manufacturers often sell directly to retailers or consumers, using distributors or independent sales organizations (ISOs) that act as intermediaries. INDEPENDENT SALES ORGANIZATION STATUS. The earnings of a person who is working as an independent contractor are subject to. Direct sales: Direct sales describes two independent seller models. Visa Third Party Agent Program (Independent Sales Organizations / Encryption Support Organizations) Third Party Agents that perform solicitation activities (ISO) or deploy ATM, POS or kiosk PIN acceptance devices and/or manage encryption keys (ESO) without touching cardholder data must be registered with Visa. For example, if you are announcing a promotion, share the old role the employee had before sharing the new role. Also, celebrating smaller successes is an excellent way to keep the team motivated and engaged. Independent sales organization. What it measures: The average sales amount of a customer contract over the course of a year. Independent sales organizations (ISOs) and payment facilitators (PayFacs) both act as intermediaries between merchants and payment processors, making them parallel channels in the overall payments ecosystem. Exhibition Services & Contractors Association (ESCA): ESCA is a professional organization of firms engaged in the provision of materials and services to trade shows, conventions, exhibitions and sales meetings. 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. Since an ISO is not a bank, an ISO will have a separate contract or ISO agreement with both the merchant and the bank when involved in a business relationship for electronic payment processing. A merchant account is established under an agreement between an acceptor and a merchant acquiring bank for the settlement of payment card transactions. Are you looking for independent sales reps? Call U. Job Summary. Independent Contractor: An independent contractor is a self-employed taxpayer who controls his own employment circumstances, including when and how work is done. In a hierarchical organizational structure, employees are grouped and assigned a supervisor. The sprints can vary in length, anywhere from 30 to 90 days. ISOs facilitate payments and provide ongoing support for their clients. In this article, we’ll explain what you need to know about ISOs—what they are, how they work, why you need one, and any potential downsides they may hold for your business. The SBU example of Coca-Cola shows how effectively an organization can manage multiple subsidiary products that exist in the same industry. In essence, an ISO is the same thing as a merchant services provider. Increase conversion. Alignment. ”. channel captain: A channel captain is the individual or organization responsible for managing a particular distribution channel and overseeing channel partnerships. Find the Right Partner. four categories: pure government organization; quasi governmental organization (“quago”); quasi nongovernmental organization (“quango”); and pure private. 10. 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. In order to understand how ISOs fit. It’s the single best book on the topic. And now, due to the zeitgeist of COVID-19, more salespeople than ever are looking for the personal independence and career autonomy. . Create a yearly sales plan, and compare data over. The core of their business is selling merchants payment services on behalf of payment processors. Bonita Hair Salon and BlowDry Bar, a Boston-based hair salon, is an excellent example of small business entrepreneurship. It’s also often referred to as an MSP, or Merchant Service Provider. Lowers cost: Indirect sales channels are often more cost-efficient than training, hiring and equipping your own team. Its full suite of sales, productivity, and analytics tools. Also, the Independent Sales Organization has the authorization to issue merchant accounts to businesses. Sales Development Representatives (SDRs): Also commonly referred to as Qualifiers/Prospectors. Here are 5 things to keep in mind when planning yours. 3. - Product benefits. 8 Types of Business Organizational Structures [+ Free Downloadable Org Charts] Large or small, every organization should operate with a defined organizational structure. Referral program. 19 Sales Resume Examples That Landed Jobs in 2023. 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. Small- and medium-sized businesses (SMBs) The definition of Independent Sales Organization. Indirect sales refer to the the sale of a good or service by a third-party, such as a partner or affiliate , rather than a company's personnel. For example, you might start with a simple card reader to start accepting credit and debit cards and expand to a full point-of-sale system that includes multiple devices to take mobile wallets (e. organizations and individuals, including independent agents and brokers, who are compensated to perform lead generation, marketing, sales, and enrollment related functions as a part of the chain of enrollment. Sales Organization Configuration > Accessing Customizing. For a large organization, this might look like a marketing leader – let’s say. Nonprofit organizations can use SWOT analyses to help inform their strategic planning. Here are 5 things to keep in mind when planning yours. 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. Inclusion on the Registry. Functional Organization Structure. ISOs often provide a range of services, including equipment sales or leasing—for example, point-of-sale (POS) terminals —transaction processing, and. Define each department's purpose. For example, the payment service Venmo will issue an information return to applicable users under SectionThe six types of organizational structures discussed here include functional, divisional, geographic, matrix, networked/team, and virtual. Independent contractors are not. Provide a specific termination date. 4. Click “SAP Reference IMG”. One example of how an acquirer with indirect access can increase its share of merchants’ expense wallets is Stripe, with its suite of services across Stripe Treasury, Stripe Issuing, and Stripe Capital. t. Sample 1. Without sales, companies grow stagnant—or worse, fail. It is the oldest and most basic sales organizational structure, and it is commonly employed by smaller firms and those with a limited number of sales. 10. ISO is an organization or individual that provides payments-related services, either directly or indirectly, to a member of Visa’s payment network (either a card issuer or transaction acquirer). In this post, we’ll analyze and exemplify 5 of them, so you can understand their advantages and disadvantages, and. The ability to build a diverse and lucrative sales portfolio. Smaller businesses may find that the island method maximizes output per headcount. The fastest way to redact Hardware Purchase Agreement with an Independent Sales Organization online · Sign up and log in. For instance, any company that offers its software solution on a. 24 "documents" used as a verb, for example in Section 3A. They must learn to identify which activities yield top results given their time investment. If you are an independent contractor, then you are self-employed. Overseeing all elements of the organization ’ s Technology strategy, Paul and his team drive with a focus on simplicity and pragmatism. Keep it Simple. may also have residences. Multiply $10,500 by 10% (or 0. Stage 5: Negotiate and Close. ” The ecosystem can be described as the entire network of businesses (whether existing within a single vertical or across all verticals) that are actively and publicly engaging in partnerships with at least one other company. I’ll also offer tips for selecting the best provider for your business. Merchant services providers enable you to take credit cards, can provide you data, and can transfer the. Identify one potential business opportunity and create a plan for approaching them. The FFIEC BSA Examination Manual states Banks should implement policies and procedures to address risks associated with ISO (Independent Sales Organizations) customers.