COMPANY Q&A
update and modify a change order or delivery destination,
managers are freed up to focus more on operations and less
on logistics as most e-commerce transactions are managed
by online distributors. Most importantly, our company’s culture
revolves around customer service, which really frees
up those charged with project procurement and liquidation
(such as project managers and equipment managers), which
means that they can focus more on the project and less on
being salesmen.
HELPING YOU BUILD
A ST ONG LEGAL
FOUNDATION
FILLMORE RILEY LLP
LAWYERS AND TRADEMARK AGENTS fillmoreriley.com
What are the benefits the industry is missing
out on by not using e-commerce?
ZO: Speed of delivery is an obvious benefit. Using e-commerce
offers project managers the ability to offload or shop
for and purchase equipment and materials online in a matter
of minutes versus weeks or even months. Orders can be
quickly transacted, shipped and tracked in real-time on their
way to a location.
The surplus and used equipment market is incredibly
fragmented and complicated, with multiple pathways and
intermediaries between buyers and sellers. With so many participants
in the marketplace, value to the customer has been
replaced by margin proliferation. 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.
Another benefit of using e-commerce in the construction
industry is the elimination of wasteful practices. Equipment
and materials that would typically sit in a construction yard
or at the scrap yard can be resold online and transported
for use elsewhere – while also adding to the contractor’s
bottom line.
How does the platform work?
ZO: Customers looking to sell used construction equipment
or material can post free listings immediately after signing
up on our platform. To sell equipment or material, customers
will need to create a listing and provide details about their
core requirements (pricing minimum, delivery, etc.). Once
the listing is posted, our advanced marketing technology
does all of the work. Our sales staff answer all questions from
prospective buyers and bring any offers matching a customer’s
requirements to them for consideration.
Conversely, customers looking to buy used construction
equipment or materials can start viewing listings immediately
by visiting the website. Upon making an offer to purchase an
item, the buyer can schedule inspection to ensure authenticity
or waive it and make an offer. If they choose an inspection,
they place a refundable deposit of $500 into a secure online
escrow account. When that inspection passes, the buyer then
places the remainder of the purchase price into an escrow
account via wire transfer. The goods are then shipped to the
buyer. Once the buyer confirms the goods reached them in
their expected condition, the funds are released from escrow.
However, if the buyer is not satisfied with the condition of
the goods upon arrival, Eiffel Trading’s escrow platform has
a dispute resolution process in place to help negotiate and
settle the matter with the seller.
Can you describe some of the biggest challenges your
customers are facing? How does the Eiffel Trading
platform help to overcome these challenges?
ZO: The construction industry is ripe with rapidly changing
deadlines and numerous customer demands that require a
quick and nimble response. This is vital to ensure customers
achieve bottom line results and also slash time off of project
timelines, getting to completion quicker and more efficiently.
By leveraging an e-commerce platform to immediately
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