The Villa chief has made a big point about adding quality over quantity this time around following last summer's well documented 12-player shopping spree totalling £130 million.
"They've both done OK for their Premier League debuts," Smith said of Cash and club-record addition Watkins.
"Ollie's made a great run to get the other side of John Egan which resulted in the red card. I think they can both be fairly pleased with their debuts.
"There's certainly more to come. It's their first look at Premier League football and I believe they'll get better and better. We look like we've got better quality and we look a fitter team at the moment. To restrict Sheffield United was really pleasing."