On the back of an encouraging step forward delivered by updates at the Bahrain Grand Prix, a more extensive development package is set for introduction in Spain next week.
Pic was able to outqualify both Marussias at Sakhir for the first time this year, and he has high hopes that a push forward is now being delivered.
What exactly has Caterham got right?
However, he thinks there is little point in getting fixated on the established outfits ahead, as energy would be better spent trying to improve the CT03 even more.
"They [the established teams] have still got a good advantage on us, and I think we don't want to have to go too fast too early," Pic told AUTOSPORT.
"We have to understand what we do and progress step by step every race. Each time we have to understand everything, and I think that is what we are doing.
"For the moment, we are not in a position to fight with them. We still have to work on ourselves and improve our car, and focus on what we have."
Caterham believes the developments it introduced in Bahrain were worth around half a second per lap, and Pic thinks a similar leap forward could be on the cards ahead for Spain.
"For sure there is more to come for Barcelona, but every other team will also bring upgrades for Barcelona," he said. "The question will be if we gain more than them.
"We have to wait for Barcelona, but I am sure we will have a positive step again. I am happy that we are going in the right direction. Of course it is just the beginning, it is not enough, but we have to keep pushing like that."
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