Smartsheet and AWS Team Up to Accelerate AI-Powered Decision-Making With a Connector for Amazon Q Business

Rhea-AI Summary

Smartsheet (NYSE:SMAR) announced a partnership with AWS to launch a new connector that synchronizes data from Smartsheet into Amazon Q Business, a generative AI-powered assistant. This integration allows Amazon Q Business customers to query their intelligent assistant for information about projects, programs, and processes managed in Smartsheet, offering a unified search experience across their knowledge base.

The connector addresses the challenge of data silos by securely combining Smartsheet data with other data sources enabled in Amazon Q Business. This integration is expected to benefit Smartsheet's 13 million users, including approximately 85% of the 2024 Fortune 500 companies, by putting their work management data at their fingertips through AWS's generative AI-powered assistant.

The Smartsheet connector is available to Amazon Q Business customers today in public preview. Additionally, Smartsheet is making its full suite of AI tools available to all customers through the end of December.

Positive

• Partnership with AWS to launch a new connector for Amazon Q Business
• Integration allows unified search experience across knowledge base
• Potential to improve productivity and efficiency for 13 million Smartsheet users
• Smartsheet's full suite of AI tools available to all customers through December

Negative

• None.

Insights

Tech Expert

The partnership between Smartsheet and AWS to launch a connector for Amazon Q Business is a significant development in enterprise AI integration. This collaboration addresses a important pain point in data management by bridging the gap between Smartsheet's work management platform and AWS's generative AI capabilities.

Key implications include:

• Enhanced data accessibility: The connector allows Amazon Q Business to query Smartsheet data, potentially unlocking insights from 13 million users across 85% of Fortune 500 companies.
• Improved decision-making: By integrating structured work management data with AI, businesses can make more informed, data-driven decisions.
• Productivity boost: The unified search experience across multiple platforms (Smartsheet, Salesforce, Slack, etc.) could significantly reduce time spent searching for information.
• AI adoption acceleration: This integration lowers the barrier for enterprises to adopt AI in their workflows, potentially sparking wider AI implementation.

While the long-term impact remains to be seen, this partnership positions both Smartsheet and AWS favorably in the competitive enterprise AI market. For investors, this could signal potential growth in Smartsheet's user base and increased stickiness of its platform within enterprise ecosystems.

Market Research Analyst

The Smartsheet-AWS partnership represents a strategic move in the rapidly evolving enterprise AI market. Here's what investors should consider:

• Market Opportunity: With only 28% of business applications currently connected, there's significant room for growth in data integration solutions.
• Competitive Advantage: By integrating with Amazon Q Business, Smartsheet strengthens its position against other work management platforms, potentially increasing its market share.
• Revenue Potential: While not directly monetized, this integration could drive user adoption and retention, indirectly boosting Smartsheet's revenue.
• Industry Trend Alignment: This move aligns with the broader trend of AI integration in enterprise software, keeping Smartsheet relevant in a fast-changing market.

Investors should monitor user adoption rates of this new feature and any impact on Smartsheet's customer acquisition and retention metrics in the coming quarters. While the immediate financial impact may be , the long-term strategic value could be substantial if it solidifies Smartsheet's position as a key player in the AI-enhanced work management space.

New Smartsheet connector for Amazon Q Business unlocks work management data insights for Smartsheet and AWS customers

BELLEVUE, Wash.--(BUSINESS WIRE)-- Today at its annual ENGAGE customer conference, Smartsheet (NYSE:SMAR), the enterprise work management platform, announced it is partnering with AWS to launch a new connector that synchronizes data from Smartsheet into Amazon Q Business, a generative AI-powered assistant that can answer questions, provide summaries, generate content, and securely complete tasks based on data and information in customers’ enterprise systems. The connector will enable Amazon Q Business customers to query their intelligent assistant for information about their projects, programs, and processes managed in Smartsheet, offering a unified search experience across their knowledge base so employees can make data-driven decisions and operate at peak.

A new connector synchronizes data from Smartsheet into Amazon Q Business (Graphic: Business Wire)

While data-driven decisions are vital to an organization’s success, data silos continue to be a significant friction point for many enterprises, where data is often spread across multiple business applications such as Salesforce, Slack, and Smartsheet. A 2024 research report from Salesforce found that only an estimated average of 28% of business applications are connected.

The new connector addresses this pervasive challenge and helps eradicate data silos by securely combining customers’ Smartsheet data with other data sources they’ve enabled in Amazon Q Business, such as Salesforce, Slack, Microsoft Teams, and AWS. For the more than 13 million Smartsheet users at companies across the globe, which includes approximately 85% of the 2024 Fortune 500 companies, it will create an opportunity to put their work management data, including sheets, conversations, and file contents, at their fingertips through AWS’s generative AI-powered assistant, optimizing decision-making, improving productivity, and increasing efficiency.

“The Smartsheet connector furthers our strategy to securely integrate Smartsheet with industry-leading enterprise AI tools so customers can seamlessly work across their business applications,” said Ben Canning, SVP, product experiences at Smartsheet. “By integrating our flexible data model with Amazon Q Business, we’re unlocking access to work management data for our mutual customers so they can focus on driving business outcomes without worrying about where their data lives.”

For example, service operations managers can leverage the new connector to deliver complex projects more efficiently and consistently. By asking the Amazon Q Business intelligent assistant specific questions, the team can access insights from multiple data sources, including sheets, conversations, and attachments in Smartsheet that have been connected. The generative AI-powered assistant performs deep searches within the data while respecting access and permission levels, saving valuable time and enhancing project oversight. This streamlined process improves client retention, increases accuracy, and elevates overall service quality.

“Generative AI presents companies of all kinds with the opportunity to revolutionize how work gets done inside their organizations, but the key is securely, intelligently accessing their own data and content, no matter where it lives and what form it takes. That’s central to what Amazon Q Business can do for our customers, bridging the gap between structured and unstructured data within organizations,” said Dilip Kumar, vice president of Amazon Q Business at AWS. “Many enterprises rely on Smartsheet as their central work collaboration hub, and they store billions of rows of data on the platform. Enabling Amazon Q Business customers to simply, securely have conversations with their Smartsheet data helps turbo charge their productivity, analysis, and decision-making.”

“Generative AI is driving a significant shift in how enterprise knowledge is stored, accessed, and utilized,” said Dion Hinchcliffe, VP of the CIO practice at The Futurum Group. “This transition offers an opportunity to redefine the boundaries of what is possible in data management and utilization. The key to navigating this evolution lies in a strategic, informed approach to adopting this powerful new technology. By integrating work management data into Amazon Q Business, Smartsheet and AWS are creating a unified AI search experience across enterprises’ knowledge base, enabling them to unlock the true potential of their data.”

Empowering teams to accomplish more with generative AI

Smartsheet is partnering with industry leaders like AWS to develop AI capabilities that can help enterprises tackle their mission-critical work more strategically and efficiently. Smartsheet and AWS have built a strong Partnership to drive innovation for their customers and employees. Earlier this year, Smartsheet announced that it has implemented Amazon Q Business internally to streamline knowledge management and accelerate employee productivity in the cloud. The Smartsheet connector is the latest example of how the two organizations are working together to deliver powerful AI tools that transform how teams work.

The company continues to apply generative AI throughout its platform, which was built with practicality, transparency, and customer needs in mind. Smartsheet AI tools help enterprises quickly extract insights from their data, originate formulas to drive processes and automation, create text and summaries, and accomplish more in Smartsheet with the help of its AI assistant. Now, through the end of December, Smartsheet is making its full suite of AI tools available to all customers so everyone can leverage the power of AI in Smartsheet.

The Smartsheet connector is available to Amazon Q Business customers today in public preview.

About Smartsheet

Smartsheet is the modern enterprise work management platform trusted by millions of people at companies across the globe, including approximately 85% of the 2024 Fortune 500 companies. The category pioneer and market leader, Smartsheet delivers powerful solutions fueling performance and driving the next wave of innovation. Visit www.smartsheet.com to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241007998337/en/

Media Contact

Lisa Henthorn

pr@smartsheet.com

Source: Smartsheet

FAQ

What is the new Smartsheet connector for Amazon Q Business?

The new Smartsheet connector synchronizes data from Smartsheet into Amazon Q Business, allowing users to query the AI-powered assistant for information about projects, programs, and processes managed in Smartsheet, offering a unified search experience across their knowledge base.

How does the Smartsheet connector benefit SMAR customers?

The connector benefits Smartsheet (SMAR) customers by putting their work management data at their fingertips through AWS's generative AI-powered assistant, potentially optimizing decision-making, improving productivity, and increasing efficiency for over 13 million users.

When will the Smartsheet connector for Amazon Q Business be available?

The Smartsheet connector is available to Amazon Q Business customers today in public preview.

What percentage of Fortune 500 companies use Smartsheet (SMAR)?

According to the press release, approximately 85% of the 2024 Fortune 500 companies use Smartsheet (SMAR).