The Integration profile is the very first step in setting up an integration.
Here you can set a profile name which will be what your channel is called - this channel name will appear on orders/listings etc and is a way to identify anything related to this channel.
The active toggle allows you to quickly enable or disable the integration - when it's not active we will completely stop all communication with the channel.
The last option here is the Company identity field, which sets the channel against a specific company identity. This is useful if you manage two different stores, you can do reporting on specific company identities and you can also assign different invoices to different company identities.