COMPANY Q&A
Talking to Zack Oliva, CEO of Eiffel Trading
When and how was Eiffel Trading founded?
Zack Oliva: Eiffel Trading was founded in 2014 by myself and
my good college friend, Andrew Norman. With more than 20
years of combined experience in construction between us,
we saw an opportunity for the creation of a pure digital marketplace
where contractors can buy, sell and rent used and
surplus equipment and materials. Our success thus far has
proven that our customers enjoy the benefits of using technology
to improve their supply chains.
What does Eiffel Trading provide to the construction industry?
Can you tell us about the types of customers currently using it?
ZO: Many construction companies continue to depend upon
the comfort of using equipment and materials auctions or
brick-and-mortar brokers to manage the procurement and
liquidation stages of heavy civil and marine construction
projects. By using an e-commerce platform like Eiffel Trading,
the “old days” of a construction project manager working the
phone or relying upon a broker or intermediary with limited
reach to source or dispose of supplies are over. E-commerce
and its use through mobile tablets and smartphones has
radically changed the process for the construction industry,
thereby increasing the speed of transactions, lowering costs,
reducing project timelines and even improving the planet’s
carbon footprint.
For example, one of our customers was awarded a project
that required 1,000 wall feet of sheet pile. The contractor’s
proposal included pricing for new heavy sheet pile. Relying
on the power of technology, the contractor leveraged our
e-commerce platform to search for used materials in an
effort to further reduce materials costs for the customer. By
using e-commerce to quickly connect online with a supplier
selling the exact type and quantity of used sheet pile needed,
the contractor saved the customer more than $450,000.
Why do you think the construction industry
has been slow to adopt e-commerce?
ZO: I think there are different factors causing the construction
industry to be a slow adopter of technology. The first
is cost. Financial allocation for information technology is
found to be lower in the construction industry than in any
other field. Second, the generation gap. Older construction
professionals rely heavily on field sales representatives who
are able to drive results by engaging directly with their customers;
e-commerce may feel too impersonal to maintain
close business relationships even though the Millennial
generation has mastered it. Lastly, most construction firms
are waiting for competitors to take the first step toward the
adoption of technologies to streamline their workflows and
improve their data collection. No one wants to be first to fail.
Another factor that can reduce traction for e-commerce
platforms is trust – can the customer trust the unknown
party on the other side of the transaction? After all, there is
a big difference between buying books on Amazon vs. buying
several truckloads of sheet pile or a crane online. One of the
ways that we’ve solved that problem is by partnering with
Payoneer, a B2B online escrow company – ensuring that all
transactions on our platform are safe and secure.
CONTINUED ON PAGE 73
COMPANY Q&A
“The use of e-commerce solutions offers
these customers a different option to
buy, sell and rent online, eliminating the
need for a “middle-man” and allowing for
increased cost savings and containment.”
BACKGROUND: PASSION ARTIST / SHUTTERSTOCK.COM
PHOTO COURTESY OF ZACK OLIVA
PILING CANADA 71