Despite the acquisitions of Adrian, Razvan Rat, Danny Whitehead and Andy Carroll, the Hammers boss believes further additions are key ahead of the 2013-14 campaign
The Upton Park club have been busy in the close-season, with their most notable addition being England international Andy Carroll, who moved from Liverpool for a club record fee of £15 million.
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"This has been one of the quietest summers I've had," he told talkSPORT. "We have done some good business.
"We're looking at securing one more player within the budget we've got this summer, and hopefully that will make us a little bit better than last season."
Goal revealed on July 27 that West Ham were closing in on the £3m signing of Salomon Kalou.
The Hammers finished the 2012-13 campaign in 10th place, and will kick-off the new season at home to newly promoted Cardiff City on August 17.