Several types of smart products are already available today in both the commercial and industrial marketplace. The pump industry has been behind the times in incorporating computer technology to operate, control and protect pumps and their systems. Smart pumping systems can match pump output exactly to system conditions and can detect and protect the pump and system against unusual operating conditions. Through the use of a smart variable speed controller these systems can significantly reduce pump-operating costs by eliminating the use of energy consuming control valves. The value of smart pumping systems to the user is in reduced life cycle costs. All of the major components of life cycle cost such as operating cost, maintenance cost, initial cost and installation cost should be evaluated when comparing smart systems to conventional systems.