Derby manager Billy Davies admits his side are still a work in progress and will look to strengthen his squad again in January. County's summer spending amounted to around £10million after winning the play-offs and while Davies pleased with the additions he has made, he missed out on a clutch of transfer targets in the close season and will look to buy again when the next transfer window re-opens. But he accepts that the Rams do not have the kind of money available to the majority of their top-flight rivals - including Monday night's visitors to Pride Park Newcastle, who have brought in the likes of Joey Barton, Alan Smith, David Rozehnal and Mark Viduka. Instead, Davies intends to spend the coming months identifying players he believes to be within his grasp before leaving the deals to the club's money men. 'We have spent a certain amount of money but we are way behind in terms of pay scales and, because of the play-offs, in terms of rest and recovery periods. 'We're also the only club in this division not to experience Premier League football in the last five or six years. 'We'll do the best with what we have but it's simple for, it's not difficult at all. 'All you can do is identify targets. I've identified plenty over the last few months. It's then up to other people to conclude the deal with the players and with their club. That's the way it is. 'Between now and the next window I will identify a huge number of targets who I think will benefit Derby County and then, again, I will leave it to the financial people to look a the budget and try and tie down personal terms and and agents' fees.' Davies is hoping that over time - and with the right additions to his side - he will soon be able to field a settled side capable of competing at the top level. 'Last season we went to Colchester and lost four soft goals, we lost 4-3, but like then we're still pairing people up and finding the right pairings and the right partnerships. 'We're still bringing in new players and matching them up. I've said before it will take three of four years to build a team and get it together. 'Look at Liverpool, it's taken them a couple of years to get their back four right but now they definitely have.' Although the former Preston manager realises that his spending power is still nowhere near that of his more established rivals he insists that could change if the Rams can survive their first season back in the Premier League. He is also delighted to have put the club back on its feet following the cash windfall that accompanies promotion. 'It's different in the second season - it becomes a different financial situation and our spending power becomes greater as our position changes. 'For the first time in many years we've come out of the transfer window in a good position, with money in the bank. 'I think £63million is the figure (for going up) and I'm delighted in the history books of Derby County I am part of putting this club back on its feet again. 'They (the board) can say `we're in an excellent position' and I'm very proud to be in that position.'