Celtic are intending to go on a lengthy run in the Europa League this season.
The Bhoys have dropped into Europe's secondary competition, after being knocked out in the Champions League qualification stages for the second season running.
Their entry into the tournament, as a result, serves as somewhat of a consolation prize, but Collins insists that they will be taking the Europa League seriously - with their first game in the competition, against Ajax, taking place on Thursday.
“It’s another game and another tournament that we want to do well in," he said. "We did fairly well in it last season and we want to do exactly the same again this year.
“We enjoy being favourites. It’s always a good sign when you are but we won’t be tomorrow night. They’re the home team and it’ll be a tough match but it’s a game we can go and win.”
Celtic made good progress in last season's Europa League tournament, making it into the Round of 32 before being knocked out by Inter Milan.
A similar run would go some way to making up for their Champions League exit, but the Bhoys will have to improve on their early showings if they are to be successful.
Ronny Deila's men have rather stumbled out of the blocks at the start of the campaign, and they look a shadow of the side which finished last term so strongly.
The Bhoys are trailing Aberdeen in the SPFL at the moment and a match tough match against Ajax will be a test of the squad's character.