Posh have acted swiftly to bolster their squad for next season with the signings of Toumani Diagouraga, Tommy Rowe and a permanent deal for Lee Frecklington.
They are also set to sign a Premier League defender on loan at the beginning of July and Fry is delighted with the business the club have done so far.
"To say we are spending close to a million pounds this summer is no exaggeration," he told the Evening Telegraph.
"Hardly any clubs will be spending money this summer and even fewer have done it in May and June like ourselves.
"We don't want to find ourselves in auctions with other clubs and end up having to pay over the odds. The manager comes up with his targets and the chairman told me to go and get them straight away."