The Zambian international will complete his move from Belgian side Oostende next month after penning a four-year deal at Ibrox, despite strong interest from elsewhere.
Sakala has had a strong season in the Belgian top flight, scoring 14 goals in 29 league appearances, and Gerrard believes the 24-year-old is as a significant long-term investment for the Ibrox club ahead of their Premiership title defence and Champions League assault next season.
"Fashion is coming in after a productive season in Belgium," he said.
"He will make us a lot quicker, a lot more dynamic, so I'm really excited to work with him. There is potential there on a big scale.
"And there's other areas of the squad that we're actively working on strengthening in the background.
"And come the Champions League qualifiers we will have a team ready to go.”