What is broker in SAP ICM - Incentive and Commission Management (ICM)?

SAP Term: broker

• Component: ICM

• Component Name: Incentive and Commission Management (ICM)

• Description: Incentive and Commission Management Sales person independent of the insurance company with a special legal relationship vis-à-vis the customer. The broker is bound by the broker order to fulfill certain activities in the interest of the customer.

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• Key Concepts: 
  A broker in the context of ICM Incentive and Commission Management (ICM) is an entity that acts as an intermediary between a company and its customers. The broker is responsible for managing the customer relationship, providing advice and guidance on products and services, and negotiating deals on behalf of the company. The broker also acts as a liaison between the company and its customers, ensuring that all parties are kept informed of any changes or developments. 
  
  How to use it: 
  The broker is responsible for managing customer relationships, providing advice and guidance on products and services, and negotiating deals on behalf of the company. The broker also acts as a liaison between the company and its customers, ensuring that all parties are kept informed of any changes or developments. The broker can also be used to manage customer loyalty programs, such as rewards points or discounts. 
  
  Tips & Tricks: 
  When selecting a broker for ICM Incentive and Commission Management, it is important to ensure that they have experience in the industry and understand the needs of your business. It is also important to ensure that they have a good understanding of the products and services you offer, as well as any regulations or laws that may affect your business. 
  
  Related Information: 
  ICM Incentive and Commission Management is a powerful tool for businesses to manage their customer relationships, loyalty programs, and incentives. It can help businesses increase sales, improve customer satisfaction, and reduce costs associated with managing customer relationships. For more information about ICM Incentive and Commission Management, please visit SAP's website.