That is correct.
Think of it as you will, as planting the seeds for accomplishing Buddhahood.
Each time we recite the Buddha’s name, we generate a Buddha seed in our Store Consciousness which is more commonly known as the 8th Consciousness. When conditions mature, then the seeds are activated and will sprout.
Clearly, the more of these seeds, the more chances we have to get there.
By the way, reciting the Buddha’s name is just one of the multitudes of types of seeds for Buddhahood. It’s worth noting that reciting the Buddha’s name is one of the better types of seeds for living beings in this Dharma Ending Age. Please refer to our Pure Land publications for reference. There should be two new Pure Land publications available within a few months.
You might logically ask next: “What are the conditions that will make it suitable for the seeds to be activated?”
These conditions are known in Buddhism as “blessings”. They are not just any kind of blessings. The better kinds of blessings are those that are planted with Mahayana.