The Championship outfit have already brought in Tyrone Mings from Bournemouth as they look to push for promotion back to the Premier League.
And Villa have been linked with Isaac Hayden and Nathaniel Chalobah from Newcastle and Watford respectively.
“It’s been very busy [behind the scenes],” Smith said.
“We are looking to still bring others in and Suso and Christian are well at work at that.
“Possibly [deals could go to the 11 pm deadline], I think that normally how it works, doesn’t it?!
“There will be chats going on and there will be paperwork being done and normally at 11 pm, there is a big rush.”
Aston Villa currently sit four points outside the playoff places in the Championship.
Mings will add quality to the defence for Smith for the remainder of the season.
The 25-year-old had made seven appearances for Bournemouth in all competitions this campaign.
Mings has been at Bournemouth since 2015.
The defender is confident he can help Aston Villa climb back up the Championship table.
He explained: “I’ve been in the situation with Ipswich – you’re at the top all along and then we nearly fell out of the play-offs on the last game of the season at Blackburn.
“If you’re coming in from a position from outside the playoffs and make a late charge, you tend to go under the radar.
“If we focus on our own results and not take too much notice in what other people are doing, it’ll take care of itself.
“I look at the position in the league and think it’s a very healthy one.”