The winger has been linked with a number of clubs following his performances for Colombia at the World Cup, including Arsenal and Barcelona.
The manager told Sky Sports Italia: "Should he stay, it will be good. Otherwise, we will seek to replace him.
"We need to evaluate the player's aspirations and, above all, if there is a club out there that can pay what he is truly worth."
Cuadrado scored 11 goals in 32 appearances for Fiorentina last season.