Will this module clash with other cache module

You definitely can. The whole point of Drupal 7 core cache API is to be able to use multiple backends. Does this answers the question?

The Drupal 7 Cache backend allows you to define which backend to use for a cache bin. See the following example:

/**
 * Add APC Caching.
 */
$conf['cache_backends'] = array('sites/all/modules/apc/drupal_apc_cache.inc');
$conf['cache_class_cache'] = 'DrupalAPCCache';
$conf['cache_class_cache_bootstrap'] = 'DrupalAPCCache';