The Baggies came unstuck against the Clarets at Turf Moor last time out as Albion fell to just a third defeat of head coach Corberan’s three-month reign.
Impressive Burnley deserved their victory and continue to lead the way at the second-tier summit under boss Vincent Kompany, the former Manchester City defender and Belgium international who has transformed his side’s style in his debut season.
Ex-Millwall winger Wallace, a regular for Albion in his first campaign at the club, told BBC WM: “Credit to them, they’re a very good team in my opinion, they’re probably three or four months ahead of where we want to be.
“But with the manager and the staff here we’ll hopefully be as good as them when we’ve had the same amount of time that Kompany’s had with their players.
“You could see the organisation they’ve had on and off the ball, we’ll still growing, two-and-a-half months into the manager’s reign, we go back to drawing board, keep working hard and I’m sure we’ll keep climbing the table.”
Albion led through Darnell Furlong for much of last Friday’s clash but late goals from Nathan Tella and a Scott Twine free-kick, from a foul conceded by Wallace, earned the hosts the spoils.
“We knew how tough it would be there, on reflection I don’t think we played as well as we could have on the ball,” he added. “It was a huge effort defensively, I think the fans saw the endeavour and defensive organisation that we had.
“The manager set us up in the right way, but ultimately we were five or 10 per cent short on the ball and when you play a team as good as that it’s going to be tough and ultimately we’ve lost the game on our goal kick with Okay not on the pitch to pick up the second ball he’s normally there for.
“I’ve given away probably a silly foul and when you do make that little mistake you’re hoping they don’t put it in the top corner, which they did.
“It was disappointing, but last time we felt like this at Coventry we bounced back with a little winning run, so we’re looking to do the same now.”
Wallace continued: “It’s human nature when you’re winning early against top of the league naturally you’re going to drop five yards.
“We probably dropped a couple of yards too much and weren’t aggressive enough but equally when you press them you’ve got to give them credit to play around us, there’s a reason they’re 18 points clear of third, respect to them.”
n Albion youngster Ethan Ingram, meanwhile, is attracting interest from Queens Park Rangers and Wolves.
The right-back, 19, might have been set for a loan departure during this month’s window for some vital senior experience.
But it is reported clubs are interested in a permanent move for the England youth international, who has been on Albion’s books since the age of 12.
Ingram has been involved in the first team just once this season, the first 45 minutes in a Carabao Cup defeat at Derby, and has yet to be permitted a move on loan.
n Richard Beale's under-21s side, for whom Ingram is a regular, saw last night's Premier League 2 clash against Leeds postponed due to a frozen pitch at Hednesford Town's Keys Park.
The under-21s’ derby against Villa has been confirmed for The Hawthorns on Friday evening (7pm).
Beale’s side then face landlords Hednesford in Birmingham Senior Cup action at Keys Park next Tuesday.