Businesses are rejecting invoices and delaying payments significantly, with 2.9 million rejections reported in Q1 2025, up from 900,000 last year. The rejection rate soared to 7% due to the impacts of President Trump's tariff policy, announced on April 2, leading to disrupted trade relations and financial strain on businesses. US dollar invoices were largely affected, with rejection rates rising to 11%. Despite this volatility, transaction volumes increased by 5% as companies rushed to stockpile goods before tariffs were applied, revealing the market's response to uncertainty.
"The reality is that the US tariff policy is creating huge strains for international trade, hitting business finance teams hard," said Jason Kurtz, CEO of Basware.
Despite the volatility, overall transaction volumes rose 5%, as companies attempted to stockpile goods ahead of expected tariffs.
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