The Shakers have undergone significant transformations both on and off the field since being saved from the brink of extinction when chairman Stewart Day took over in May.
Last season Bury were the recipients of two Football League transfer embargoes and Flitcroft admits he is happy to join an environment in a stable financial situation under Day's rule.
Speaking to BBC Radio Manchester's Football Hour about Bury's campaign last season, Flitcroft said: "Nine years ago, when I was there as a player, Graham Barrow got me in under those circumstances.
"They were going in to administration and, out of adversity, I did three seasons and enjoyed my best football.
"Now, going back to the club, a lot of the infrastructure is unrecognisable with what the chairman has done. He's enthusiastic and eager, but he's also got the intelligence for where we need to be."
Flitcroft has a couple of weeks before he can first dip into the transfer market in January and despite being at the helm for just over a week, he has already pinpointed the areas where he intends to improve.
He added: "I've always been a big believer in recruiting and improving every day.
"There are certain aspects where we've got to improve, and quickly. We're looking at more defensive aspects of our play and I'm really concentrating on that at the moment because going forward I think we can be a real force."