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V O L . X X I I I N O. V I M A R C H 2 0 , 2 0 1 7 16 combination of "organic" improve- ments in its products, marketing, sales force productivity and revenue management practices that are complemented by acquisitions off er- ing opportunities to grow revenues and expand WEX's market share. 2. Lead through superior technol- ogy: Achieving this goal, says Smith, depends on innovation and WEX's ability to deliver payment solutions in each segment that are competi- tively priced, secure and streamline the payment process for customers. 3. Maintain top-of-class operational excellence: In each of each seg- ments, Smith says WEX strives "to deliver the best solutions to our part- ners and customers" quickly, nimbly and with superior customer service. "We start with organic," she says. "Every one of WEX's divisions is growing organically. When I talk about organic growth, it's about having products in the marketplace that are in demand and selling them to more people." And the biggest piece of that focus, says Smith, is hiring salespeople who are adept at fi nding leads, clos- ing them and making sure they're implemented in a way that meets the new customer's needs and expectations. "We're very disciplined about how we think about sales deploy- ment," she adds, noting that from its earliest years WEX has culti- vated customer loyalty, which she says is "based on relationships and delivering what you promise to do." Acquisitions accelerate 2016 growth Prior to the 2005 public off ering — which Smith oversaw in her then-role as senior vice president/fi nance and chief fi nancial offi cer of what was then called Wright Express Corp. — the company's growth was primarily organic. Since 2005 and the greater access to capital, acquisitions have played an ever-greater role in driving the company's growth. e most recent example is the July 2016 purchase of Electronic Funds Source LLC for $1.1 billion cash plus 4 million shares of common stock. e acquisition of the Utah-based fl eet and corporate payments company was cited as having a positive impact on WEX's fl eet division revenues that grew 41% in the fourth quarter to $192 million and closed the year with an overall 17% increase to $642 million. "EFS creates synergies to scale up. ey had functionality that we didn't have for our own core fl eet market," Smith says, citing as one example a product EFS off ered in Canada that WEX can now off er to its U.S. custom- ers that also do business in Canada. In the health and employee benefi ts division, WEX rebranded in 2016 two wholly owned subsidiaries as WEX Health: Evolution 1, a cloud-based technology and health care payment » C O N T I N U E D F RO M P R E V I O U S PA G E C O N T I N U E D O N PA G E 1 8 » Melissa Smith Age: 48 Leadership icon: I like the combina- tion of Warren Buffett and Mark Zuckerberg. One leads with his head. The other builds great teams and leads from a point of passion. Maine's biggest challenge: Both our taxes and the migration of younger talent out of the state are issues [to solve] for economic development. Maine's biggest opportunity: We live in a remarkably special place surrounded by beauty. We are also in a short proximity to one of the largest economies in the world. Our access to nature and our quality of life are highly attractive. Best business advice: "Focus Daniel-san." From "Karate Kid" Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's Every one of WEX's divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing divisions is growing organically. When I talk about organic growth, it's about having products in the marketplace that are in demand and selling them to more people. — Melissa Smith

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