Cisse meets the criteria after breaking into the France side and convincing Houllier he has the pace and power to slot in alongside Michael Owen up front.
The manager has also earmarked potential defensive reinforcements in Auxerre centre back Philippe Mexes, who will only join Liverpool if the club achieves Champions League qualification, and Ajax full back Hatem Trabelsi, who has also been tracked by Manchester United.
Manchester City's Shaun Wright-Phillips is seen as a prime candidate on the right of midfield, while Nottingham Forest defender Michael Dawson and Sheffield United midfielder Michael Tonge are still being watched.
Parry and club chairman David Moores have warned Houllier that the current quest for fourth spot is ' unacceptable'. However, they seem willing to offer him financial aid to guard against any repeat.
A Champions League place would guarantee a minimum of £10m, provided the qualifying round were safely negotiated, while Liverpool are also looking to bring in up to £15m from sales, headed by Diouf and Emile Heskey.
The club's partnership with Hawkpoint, forged initially to flush out prospective investors such as building magnate Steve Morgan, is seen as a means of creating extra income from schemes such as a limited share issue.
However much is raised, it is clear Houllier will be under pressure to get it right in the transfer marker.
After spending £26m on Heskey, Diouf and Diao, and seeing their value plummet, Houllier knows that, with just one more year left on his contract, more expensive failures will exhaust patience in the boardroom.
Even his £5m purchase of Harry Kewell, deemed a bargain at the time, has yet to pay off, though Liverpool legend Ian Rush tipped the former Leeds midfielder to come good at just the right time - against Manchester United at Old Trafford on Saturday.
'Harry has been the first to admit he has not been happy with his form this season, but I would not bet against him making a difference at United,' said Rush, who is on the Liverpool coaching staff.
'I know Harry well and all he has been lacking since coming back from an ankle injury is confidence. But he is still a class act who only needs a split second for all the self-belief to come flooding back.
'He has the ability to deliver a stunning goal or defencesplitting pass, especially at a venue like Old Trafford.'
