The Italian coach hopes that the Ligue 2 champions will sign some more players this summer as they aim to join the French elite again.
The Ligue 1 side has already added seven new players to its roster, including high-profile names such as Radamel Falcao, Ricardo Carvalho, James Rodriguez and Joao Moutinho, but the Italian feels Monaco still lack a bit of quality that would allow it to compete with Paris Saint-Germain.
"The club's objective is to finish in the top three, but the team is still missing something," he told the Corriere dello Sport. "We are missing some players of substance who would really add something to the team. The squad has already changed a lot compared to last year and has become very strong, but we are not complete yet.
"We are still far away from PSG's level, although I understand that the people will see Ligue 1 as a battle between us and them. We have an ambitious president and a lot of money."
Monaco has won seven Ligue 1 titles but its last success was back in 2000.