Sourcing platform — CitBid

Make suppliers
bid the price down.

CitBid runs live reverse auctions and reverse Dutch auctions for procurement. Instead of one negotiation at a time, every qualified supplier competes on price in the same scheduled window — in front of everyone, in real time.

Reverse Auctions Reverse Dutch Auctions Live Bidding Full Audit Trail

Fig. 01 — CitBid, Live Auction View

CitBid live reverse auction dashboard showing a countdown timer, current bid, place bid button, minimum decrement control, auction schedule, and bid history panels

Two formatsRun a standard reverse auction or let price rise automatically in a reverse Dutch auction — same screen, same rules.

Live, to the secondEvery bidder watches the same countdown and the same current price at once.

Scheduled, not endlessStart time, end time, and duration are fixed and visible before bidding opens.

Every bid loggedBidders, amounts, and timestamps are recorded for the procurement record.

Two formatsRun a standard reverse auction or let price rise automatically in a reverse Dutch auction — same screen, same rules.

Live, to the secondEvery bidder watches the same countdown and the same current price at once.

Scheduled, not endlessStart time, end time, and duration are fixed and visible before bidding opens.

Every bid loggedBidders, amounts, and timestamps are recorded for the procurement record.

How sourcing events run

Two auction formats, one live event

What suppliers and buyers each see during a CitBid auction.

Reverse auction

Suppliers compete the price down

Qualified suppliers bid against each other live, each new bid required to beat the last by a set minimum decrement, until time runs out.

$182,400 → $179,900 → $176,250

Reverse Dutch auction

Price rises until someone accepts

The price ticks up automatically from a low starting point at a set interval — the first supplier to accept wins the contract.

Start $150,000, rising $500 every 2 minutes, until accepted

Live bidding

Everyone watches the same clock

A shared countdown and current price keep every bidder working from the same facts, with no side channel and no private information advantage.

Bidding open · 00:19:20 remaining

Audit & compliance

Every bid timestamped and logged

Bidder identity, amount, and time are recorded for every bid placed, giving procurement an exportable record of how the final price was reached.

Bid #14 · $176,250 · accepted 11:47:02

Why competitive bidding

The case for running sourcing as an auction

Read as a spec sheet — the mechanics behind the savings.

Supplier competitionWhat changes

Instead of one negotiation at a time, every qualified supplier bids against each other, live, in the same window.

Speed to closeHow long it takes

A sourcing event that used to take weeks of back-and-forth is compressed into a single scheduled auction window.

TransparencyWhat everyone sees

Bidders see the same countdown, the same current price, and the same rules — no one is negotiating from a different set of facts.

ComplianceWhat you can prove

Every bid is timestamped and retained, giving procurement an auditable record of exactly how the final price was reached.

Track recordWhat it's done

CitBid has been used to reduce costs on contracts worth hundreds of millions of USD in combined value.

Side by side

Traditional sourcing vs. CitBid

Traditional negotiation

One supplier negotiation at a time, sequentially

Final price depends on the negotiator's time and skill

No visibility into what competitors are offering

Records scattered across emails and calls

Can take weeks to reach a final number

CitBid

All qualified suppliers bid in the same live window

Price is set by competition, not negotiation skill

Every bidder sees the same live price

Every bid timestamped in one exportable record

Reaches a final number in a single scheduled session

Make suppliersbid the price down.

Run your next sourcing event as an auction.

Make suppliers
bid the price down.