How Betterment Made Their Expense Reporting Better Since its launch in 2010, Betterment has raised over $100M in funding and quickly become the largest automated investing service. As the company and employee count grew, Betterment saw a strain on their operations and internal processes. When Lucy Babbage joined the team in 2012 to manage internal operations, the Betterment team was just under 20 employees. The expense reporting process was a free-for-all with receipts being dropped at her desk for reimbursement. She knew that this process wasn’t scalable, but Lucy and Betterment’s Chief Operating Officer also didn’t want to bog employees down with spreadsheets or complicated workflows. The first fix to the process began by having employees email Lucy a photo of their receipt with a short

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