The new Burnley boss has been working hard in the background to replenish the squad since his appointment earlier this month.
Last season's League One Player of the Year, Scott Twine, has already been confirmed as the Belgian's first capture as an EFL manager.
And there are plenty of plates still spinning with the Clarets' first pre-season friendly at home to Rochdale [behind closed doors] just days away.
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"We are looking forward to bringing in some exciting players," said the former RSC Anderlecht boss. "But we have to be smart now, not desperate!
"The recruitment staff are going through hundreds of players a day. We get a lot of information on every player we get.
"If we have to bring in a player in a position we will be ready, any position, to bring in a player who is able to be successful."
The four-time Premier League winner is closing in on the signing of Oxford United Centre back Luke McNally, with reports the club have agreed a fee of £1.6m for the 22-year-old, who has two years remaining on his contract at the Kassam Stadium.
Burnley are also said to be leading the race for Rotherham United midfielder Ben Wiles, with the 23-year-old entering the final year of his contract with the Millers.
In what is said to be a seven-figure deal, with multiple add-ons included, Kompany said: "We have been able to negotiate and hopefully we're close to completing on a few players.
"There is also the reality of the squad. We have got an experienced squad and if we are to turn a financial corner, it is important to have balance in the squad, a mix of players who grow in value – not only for that reason but the football they can give us – and the players that hold that culture together and what has made Burnley special over the years."
Negotiations are ongoing with his former club Manchester City regarding moves for a couple of the club's starlets ahead of the 2022-23 Championship campaign.
Defensive duo Taylor Harwood-Bellis and CJ Egan-Riley are high on Kompany's wish-list following the exits of James Tarkowski and Ben Mee while Republic of Ireland international Nathan Collins is also being linked with a move elsewhere.
Harwood-Bellis, 20, who featured 16 times for Anderlecht last season, would be a loan option and Egan-Riley, 19, who made his Premier League bow against Newcastle United last year, is expected to land a permanent move for a six-figure fee.
"Taylor is a great lad, a great player, a leader and somebody I have a lot of time for," said Kompany. "We'll see. Any transaction we make will only be in the benefit of Burnley Football Club.
"At this moment in time, with regulations changing, it's not hard at all to have conversations with any of the top clubs regarding their best talents. We're in quite a comfortable position when it comes to that.
"We'll look at the best players and try to bring the best players to the club. If they can help us in the short-term, so be it, but ideally we want players who can help us in the long-term."