Following a spell of gardening leave from his previous Lotus team, Allison started work at Ferrari this week as its new chassis technical director.
Fry, who was previously overall technical director, believes his change of role and the arrival of Allison is a huge positive as it frees him up to work on areas that will be more beneficial to the Maranello outfit.
"I think getting James on board is a great asset for us, as he is a top bloke," said Fry, who joined Ferrari from McLaren in 2010.
"In reality there is a huge amount of work to do; a change in the organisation, and the way we run the company.
"For me it is good because I will have more time to concentrate on what will make the car quick.
"The two of us we will divide the work up, and there will be more balance, so it will really help."
Ferrari cited Allison's imminent arrival as one of the reasons to remain positive when it appeared to be drifting down the Formula 1 pecking order prior to the summer break.