With Huw Jones and Adam Hastings leaving at the end of the season, Smith has pushed for the flexibility to recruit proven talent from outside Scotland. The club are understood to be progressing well with their plans, with potential announcements expected in April.
Kriel, 27, currently plays for the Bulls - Glasgow's Champions Cup last-16 opponents - and is viewed as fitting the profile Smith wants: experienced, versatile and capable of covering multiple roles.
Asked if the South African was a target, Smith told Scotland Rugby News: "He's definitely one of the guys we've spoken to and I think he's a good rugby player. I've known him since he was a schoolboy.
"But there's also other names in the conversation and we will see how that progresses going forward. But I mean, we're looking for that type of player with that utility background so that we can use it.
"I've always said the foreign players here should be used for three reasons. Winning, obviously, is part of it, but also to bring the young players through and to manage the internationals. And having a player that can play more than one role allows us, with a lot of internationals that we currently have, to be able to manage them properly."
Scottish Rugby had previously prioritised signing players eligible for national selection - a stance that caused tension last season. But following the confirmed departures of Jones and Hastings, Smith indicated there is now greater scope to recruit overseas players in targeted positions.
On that support, he added: "As it stands at the moment. We will have, I think, an opportunity to bring in some specific roles.
"I think it must be understood also that we are closer to the World Cup now. I'm sure that the pool of players that will play in the 2027 World Cup are identified and they are in the fray.
"I think it's now currently about upkeeping that product so that they have the best chance to develop and progress to deliver the best product in 2027.
"And therefore, you need to obviously manage them, which we're doing. And then at the same time, we need to see if we can't now start bringing youngsters through like we've been doing for beyond the 2027 World Cup.
"At the same time, we want to play the brand that we do and hopefully, through grace, not get under pressure from a results perspective.
"And we can keep on focusing on the development and the growth of the broader squad of Scottish rugby."