Analysis across the Tradeshift platform found cross border transactions between businesses have fallen by 58% week on week, while domestic transactions have dropped 66% during the same period.
The findings mirror the pattern observed in China during the height of the outbreak across the region. Tradeshift’s data analytics team found cross-border and domestic trade activity in China fell by 56% in the week commencing February 16th.
The scale of the slowdown is having a significant impact on liquidity, with an increasing number of large organisations saying they are looking at ways to build or maintain cash reserves. Tradeshift is actively working with customers to advise on measures to ease liquidity pressures and get working capital flowing through the supply chain.
As a provider of supply chain payments and marketplaces solutions, Tradeshift helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app.
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