Concept: Real-Time Credit Card Authorizations and Expense Items
This feature is part of the
Expense Management
subscription, which is separate from the standard Expenses
subscription.Real-Time Credit Card Authorizations
Workday supports receiving real-time credit card authorization data for Mastercard and Visa transactions. This enables automatic creation of expense lines, simplifies receipt management, and provides immediate visibility into spend.
Cardholders who opt in to mobile and SMS notifications can receive instant push notifications or SMS messages when they use their corporate credit card, helping them track transactions in real time and complete expense reports more efficiently.
Automatic Population of Expense Items
Workday also supports automation for corporate credit card transactions by automatically populating expense items in real-time when the authorization event occurs.
The feature prioritizes populating the expense item for a credit card authorization through this process:
- Workday first attempts to populate an expense item from machine learning.
- If the machine learning model doesn’t apply a default item but you have a merchant category code mapped, Workday applies the expense item based on the merchant category code mapping.
- If the machine learning feature can only provide recommendations, Workday displays them in order of their confidence score.
- If there is no merchant category code mapped, then the expense item value is blank.
If the expense item is still blank when the clearing credit card transaction arrives, the machine learning model will run again to automatically populate the expense item and recommendations for that expense line.
The machine learning model predicts and populates expense items based on historical data, transaction details, and vendor information. You can manually override any default populated values.