The two sides meet at Thomond Park to kick off the second round of action in European rugby's premier club competition, with both boasting a strong recent track record.
In the tournament's former guise as the Heineken Cup, Munster were champions in 2006 and 2008, while Saracens reached the previous final earlier this year, only to lose 23-6 to Toulon, who had defeated Munster in the last four.
And Barritt, who on Wednesday was one of five Saracens players to be named in England's squad for the upcoming November internationals, believes Friday's encounter will be a tight one.
"It's definitely going to be a game that goes down to the wire and we're going to have to be as clinical as ever - we have to be prepared in every element of our game," he told the club's official website.
"There's been a buzz of excitement around the whole squad so far this week. We've had a great start to our European campaign and Munster at Thomond Park is a huge opportunity for us to make another memory.
"We talk about going to these historical grounds, places where people have found it very tough to win and we know it's going to be extremely tough, but we're confident that we can go there and do the job.
"They're a team with a wealth of European experience, and a team that are able to consistently work for 80 minutes to achieve the result that they need."
Munster needed a last-gasp drop-goal from Ian Keatley in their 27-26 win at Sale Sharks in Pool One last weekend, while Saracens overcame Clermont Auvergne 30-23. Sale and Clermont go head-to-head on Sunday.
In Pool Three, defending champions Toulon face 2012 runners-up Ulster in Ireland, while Scarlets host Leicester Tigers, who have made an indifferent start to their Premiership campaign with three wins and three defeats.
There is an all-Premiership clash at Adams Park as Wasps take on Harlequins, while the other game in Pool Two sees Leinster - champions in 2009, 2011 and 2012 - visit Castres.
Toulouse, who won the Heineken Cup four times - more than any other side - travel to Bath having beaten Montpellier in their Pool Four opener, while Montpellier host Glasgow Warriors, who claimed maximum points with their 37-10 win over Bath last time out.
Elsewhere, in Pool Five, Northampton Saints hosts Pro12 leaders Ospreys and Racing Metro visit Treviso - who have lost all six matches in the Pro12 this season and were hammered 42-7 by Ospreys on the opening weekend.