Smart Software Inc - Comprehensive Analysis Report
Summary
Smart Software Inc, founded in 1981, is a pioneering force in demand planning, forecasting, and inventory optimization solutions. The company's core mission is to empower customers to maximize sales and minimize inventory costs through enhanced demand forecasting and planning capabilities. Smart Software has established itself as a leader in providing enterprise-wide demand forecasting, planning, and inventory optimization solutions, serving mid-market enterprises and Fortune 500 companies globally. In May 2024, Smart Software Inc was acquired by Epicor Software Corporation, and now operates as a private equity-backed operating subsidiary within the Epicor ecosystem, positioning itself to transform traditional ERP systems into systems of action with AI-driven capabilities.
1. Strategic Focus & Objectives
Core Objectives
Smart Software Inc’s main business objectives revolve around delivering innovative analytical solutions to help customers achieve significant operational improvements. These include maximizing sales, minimizing inventory costs through improved demand forecasting and inventory planning, and enhancing operational efficiency via AI-driven applications.
Specialization Areas
The company specializes in advanced inventory planning and optimization (IP&O) applications. Their unique value propositions include:
Pioneering statistical methods: Smart Software was a pioneer in automatic demand forecasting utilizing statistical methods and developed a patented APICS award-winning method for intermittent demand forecasting.
Probabilistic forecasting: They were awarded a patent for a new probabilistic forecasting method that effectively leverages daily demand signals.
Cloud-native, AI-driven platform: Their flagship Smart IP&O platform is cloud-native, multi-tenant, and SOC-certified, offering an integrated suite of applications for demand planning, inventory optimization, and supply chain analytics.
Target Markets
Smart Software's primary market segments include manufacturers, distributors, and Maintenance, Repair, and Operations (MRO) across various industries. Their solutions are particularly vital for the "make, move, and sell" industries, helping them navigate complex supply chain challenges.
2. Financial Overview
Funding History
Prior to its acquisition by Epicor in May 2024, Smart Software Inc was largely bootstrapped. The company received a $150,000 grant from the National Science Foundation in 2012. Historically, Smart Software has zero funding. The financial terms of the Epicor acquisition were not disclosed.
3. Product Pipeline
Key Products/Services
Smart Software Inc’s core product offering is the Smart IP&O cloud platform, which leverages 40 years of forecasting innovation. This platform is a cloud-native, multi-tenant, and SOC-certified environment.
SmartForecasts®
Description: The company's original flagship software solution for sales and demand forecasting, introduced in 1984 as the world's first automatic business forecasting system for the PC. It pioneered the first on-screen "eyeball" forecast adjustment capability to incorporate business judgment.
Development Stage: Mature and continuously evolving.
Target Market/Condition: Businesses requiring accurate sales and demand forecasts, particularly those dealing with seasonality, promotions, new and aging products, multi-dimensional hierarchies, and intermittently demanded service parts and capital goods items.
Key Features and Benefits: Automatic statistical forecasting, optimal inventory and safety stock estimates, improved service levels, and reduced inventory.
Smart Demand Planner
Description: A solution for consensus demand planning and statistical forecasting.
Development Stage: Currently available and integrated within the Smart IP&O platform.
Target Market/Condition: Companies looking to develop consensus forecasts and manage demand collaboratively.
Key Features and Benefits: Tools for handling sales seasonality, promotions, and multi-dimensional hierarchies, supporting the Sales & Operations Planning (S&OP) process.
Smart Inventory Optimization (SIO)
Description: Provides inventory policy decision support to optimize stocking policies and track performance. It leverages patented, probabilistic AI and machine learning models to deliver superior forecasting and "what-if" analysis.
Development Stage: Actively developed and a core component of the Smart IP&O platform.
Target Market/Condition: Businesses aiming to optimize inventory levels, reduce costs, and avoid stockouts.
Key Features and Benefits: Prescribes optimized stocking policies, offers analytics for operational insights using machine learning and advanced statistics, and improves cash flow by preventing excess and obsolete inventory.
4. Technology & Innovation
Technology Stack
Smart Software Inc’s Smart IP&O cloud platform is a cloud-native, multi-tenant, and SOC-certified environment.
Core Platforms and Technologies: Cloud-based architecture utilizing probabilistic forecast modeling, machine learning, and advanced statistics.
Proprietary Developments:
Pioneered the first automatic demand forecasting utilizing statistical methods.
Developed a patented APICS award-winning method for intermittent demand forecasting.
Awarded a patent for a new probabilistic forecasting method that effectively leverages daily demand signals.
Technical Capabilities: The platform runs thousands of simulations to derive precise predictions and avoids unrealistic assumptions to enhance forecasting accuracy and identify inventory imbalances. It offers multi-directional integrations with various ERP systems, including SAP, Oracle ERP, JD Edwards, PeopleSoft, Accumatica, Hexagon, Infor, Great Plains, Sage X3, and Epicor Vantage.
5. Leadership & Management
Executive Team
Nelson Hartunian, Ph.D. - Chairman, Treasurer, and Co-Founder. Dr. Hartunian oversees Smart Software as Chairman of the Board and has held various executive roles including President, leading software development, sales, and customer services. He co-designed SmartForecasts®. He holds a B.S. in Electrical Engineering and an M.S. in Physics from Tufts University, and a Ph.D. in Physics from Brandeis University.
LinkedIn: [https://www.linkedin.com/in/nelson-hartunian-3266a01](https://www.linkedin.com/in/nelson-hartunian-3266a01)
Thomas Willemain, Ph.D. - Senior VP for Research and Co-Founder. Dr. Willemain directs Smart Software's research and advanced development in forecasting and demand planning technology. He is Professor Emeritus of Industrial and Systems Engineering at Rensselaer Polytechnic Institute and previously served on the faculties of MIT and Harvard University. He received his BSE from Princeton University and M.S. and Ph.D. degrees from MIT.
LinkedIn: [https://www.linkedin.com/in/thomas-willemain-phd-4355a2b](https://www.linkedin.com/in/thomas-willemain-phd-4355a2b)
Charles Smart - Vice Chairman and Co-Founder. Charles Smart led Smart Software as its founding president for nearly thirty years and now serves as Vice Chairman. He was a management consultant at Stanford Research Institute (SRI International) and Policy Analysis, Inc., and a Lieutenant in the U.S. Navy. He holds B.A. and M.A. degrees in Applied Mathematics from Harvard University and an MBA in Finance and Economics from MIT's Sloan School of Management.
LinkedIn: [https://www.linkedin.com/in/charles-smart-9801a2b](https://www.linkedin.com/in/charles-smart-9801a2b)
Greg Hartunian - President and CEO. Greg Hartunian joined Smart Software in 1999 and subsequently became President and CEO. He is a member of the company's Board of Directors. He holds a Master's Degree in Business Administration from The F.W. Olin School of Business at Babson College and a B.A. from Syracuse University.
LinkedIn: [https://www.linkedin.com/in/greghartunian](https://www.linkedin.com/in/greghartunian)
Recent Leadership Changes
In May 2024, Smart Software Inc was acquired by Epicor Software Corporation. This acquisition facilitated a transition in management and strategic direction, moving to a new generation of leaders, although the co-founders remain active in research and strategic guidance. Greg Hartunian continues in his role as President and CEO.
6. Talent and Growth Indicators
Hiring Trends and Workforce
As of 2024, Smart Software Inc had 28 employees. Another source indicates 15 employees as of May 9, 2025. Following its acquisition by Epicor, the company's growth trajectory and hiring are integrated within the larger Epicor organization, making direct, isolated hiring trend data for Smart Software Inc as a standalone entity unavailable. According to one source, Smart Software has 57 employees and generates $15.7M in revenue.
7. Social Media Presence and Engagement
Digital Footprint
Smart Software Inc maintains an active presence on several social media platforms, primarily for sharing content related to demand planning, inventory optimization, and supply chain analytics:
LinkedIn: The company's official LinkedIn page: [https://www.linkedin.com/company/smart-software-inc./](https://www.linkedin.com/company/smart-software-inc./)
YouTube: The YouTube channel "@SmartcorpInventoryOptimization" features 55 videos, including feature recordings, training sessions, and webinars on demand planning and inventory optimization solutions, and has 352 subscribers.
Twitter: The company's Twitter handle is @SmartForecasts.
Facebook: The company also maintains a Facebook presence.
8. Recognition and Awards
Industry Recognition
Smart Software Inc has received notable industry recognition for its innovations. The company developed a patented APICS (Association for Supply Chain Management) award-winning method for intermittent demand forecasting. Additionally, Smart Software has been a recipient of multiple National Science Foundation Small Business Innovation Research (NSF SBIR) awards, which supported several of its forecasting advancements. Smart Software was also named a Microsoft Co-sell-ready partner for its demand planning and inventory optimization solutions. In 2022, Dr. Thomas R. Willemain's article "Managing Inventory amid Regime Change" won 1st place in the Forecasting category of the Supply Chain Brief MVP Awards.
9. Competitive Analysis
Major Competitors
Prior to its acquisition by Epicor, Smart Software Inc competed in the demand forecasting, inventory optimization, and supply chain planning solutions market. Key competitors included companies such as Anaplan, Kinaxis, o9 Solutions, Logility, Invent Analytics, and Baxter Planning.
10. Market Analysis
Market Overview
Smart Software Inc operates within the IT Consulting and Outsourcing, Business/Productivity Software, SaaS, Supply Chain Management, Logistics Software, and Analytics & Performance Software industries. The company plays a crucial role in enabling businesses to predict demand, optimize inventory levels, and enhance operational efficiency. Its solutions are particularly vital for the "make, move, and sell" industries. The market dynamics are characterized by a growing demand for AI-driven solutions to improve forecast accuracy and inventory management.
11. Strategic Partnerships
The most significant strategic move for Smart Software Inc was its acquisition by Epicor Software Corporation in May 2024. This integration allows Smart Software to leverage Epicor's global leadership and extensive portfolio of industry-specific enterprise software.
Prior to the acquisition, Smart Software Inc had been an existing Epicor ISV (Independent Software Vendor) partner, with its solutions already integrated into several Epicor ERP platforms, including Epicor Kinetic. In February 2024, Smart Software also announced a strategic partnership with Sage, integrating its Smart IP&O platform into Sage X3, Sage 300, and Sage 100 to enhance inventory optimization and demand forecasting for Sage customers.
12. Operational Insights
Following its integration with Epicor, Smart Software's solutions are strategically positioned to offer enhanced operational benefits to a broader customer base. These benefits include streamlining inventory management processes, ensuring optimal stock levels, eliminating manual data entry, and automating demand forecasting while accounting for trends, seasonality, and intermittency. The goal is to optimize cost savings, improve resource utilization, and facilitate smoother operations. By preventing excess stock and minimizing obsolete inventory, Smart Software's solutions contribute to efficient cash flow management and improved financial health for businesses.
13. Future Outlook
Strategic Roadmap
As part of Epicor, Smart Software Inc is positioned for significant strategic opportunities and future growth. The acquisition allows Smart Software to benefit from Epicor's substantial scale, development, and investment in inventory planning and optimization solutions. Moving forward, Epicor aims to leverage Smart Software's AI-driven capabilities to transform traditional ERP from a system of record to a system of action, enabling customers to turn inventory into a competitive asset that helps drive up customer service levels and drive down costs. The company is committed to continuing its journey in driving innovation across the supply chain industries within the Epicor ecosystem, expanding its capabilities and product options over time.
