Phillips has been busy swotting up on the Rams' players, ahead of taking on his new role as Paul Clement's number two, and he has been impressed by what he has seen.
The former Premier League goal-getter says that Derby have a very strong team, one capable of achieving great things, but insists quality alone will not get them promoted.
“There are a lot of quality players in the league and certainly here at Derby as well," he said.
“I have analysed the squad and it is packed with excellent players, but that doesn’t assure you of promotion and it’s about finding that winning formula and sticking to it.
“Every game in this league is winnable, but at the same time also one that you can lose.”
Phillips joins Derby County after learning his trade as a coach at Leicester City.
He will now form part of Clement's new look backroom team at the Rams, and will be hoping to make a positive impression as the Midlands outfit aim to finally make it out of the Championship.
Derby have staged promotion pushes in the last two seasons, but have not managed to get over the line, and they are keen to go one better this time around.
At the moment the Rams are stationed just outside the play-off places, but having picked up victories in their last two fixtures, against Preston North End and Reading, they appear to be moving through the gears.