Despite missing out on Nico Williams and Luis Diaz, Blaugrana secured the signings of Marcus Rashford and Joan Garcia.
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Olmo believes his side have conducted better business this transfer window than their fierce rivals, Los Blancos.
"Madrid will also want to have the best players, so in that sense it's very good. We've also strengthened our position, and even better, I'd say," he said on COPE's El Partidazoprogram.
Flick’s squad is set to play their final pre-season match of the Asia tour on August 4 against Daegu FC. Afterward, they will return to Spain to compete in the Joan Gamper Trophy against Como on August 10.