Which core functions should a treasury engine cover for a mid to large enterpris

A robust treasury engine should address end-to-end cash and risk operations: 1) Cash visibility: multi-bank connectivity, intraday balances, and automated cash positioning; 2) Forecasting: short- and medium-term projections using historical patterns and business drivers; 3) Payments: centralized initiation, validation, sanctions screening, approvals, and ISO 20022/STP routing; 4) Bank connectivity: APIs, SWIFT, host-to-host, and file protocols; 5) Liquidity and investments: pooling, in-house banking, intercompany lending, and policy-driven allocations; 6) Market risk: FX/IR exposures, hedge accounting support (IFRS 9/ASC 815), and effectiveness testing; 7) Controls and compliance: segregation of duties, audit trails, reconciliation, and cybersecurity alignment to NIST/ISO; 8) Reporting and analytics: KPIs, dashboards, and regulatory-ready outputs. For global firms, intraday liquidity monitoring and payment cut-off intelligence are essential to reduce trapped cash and funding costs. Aligning these functions to recognized control frameworks (e.g., SOX/COSO) and secure messaging standards (ISO 20022) enhances resilience and auditability. Ensure your selection roadmap prioritizes bank coverage, data quality pipelines, and extensibility to ERP/APS/BI tools. Key Takeaway: Prioritize connectivity, forecasting, payments control, risk, and compliance capabilities, underpinned by ISO 20022 messaging and strong cybersecurity and control frameworks.