In a climate of economic and geopolitical uncertainties, 64% of Moroccan financial departments wish to review the organization of their teams to respond to transformation challenges and improve their agility, indicates this study entitled “Building the future with optimism”.
Indeed, performance management is now establishing itself as an essential lever for navigating in this environment, ensuring better resilience in the face of economic crises and supporting strategic decision-making.
Conducted with more than 110 financial departments from 13 sectors of activity in Morocco, the said study aims to identify the main issues and opportunities for Moroccan companies in a constantly evolving economic context.
She specifies that currently, 93% of financial directors have expressed increased confidence for the coming year, regarding Morocco’s economic growth prospects. This confidence has increased by more than 10% over the last three years, a development marked by an economic environment which is stabilizing thanks to large-scale investment projects and economic reforms supported by public authorities.
Medium-term confidence also improved by more than 15%, reflecting the positive expectations of financial managers regarding economic strength and the successful implementation of pro-growth policies.
In a statement to the press, on the occasion of the presentation of this study, Mohamed Rqibate, Audit Associate at PwC Morocco underlined that this confidence is certainly the result of the business climate in Morocco which is driven by projects of large-scale investment and economic reforms which aim not only to improve macroeconomic conditions, but above all to develop the social environment in Morocco.
“Moroccan financial directors display unwavering optimism and a determination to surpass their limits,” continued Mr. Rqibate, noting that this optimism could be attributed to several factors, including investments and structuring projects in various strategic sectors.
However, despite this positive outlook, financial directors remain vigilant in the face of a major risk, that of inflation, noted Mr. Rqibate. This phenomenon, he said, remains a source of concern for financial managers and remains seen as a disruptive factor which could have repercussions on the management of companies.
Furthermore, the survey reveals that the finance function, increasingly focused on optimizing internal processes, must also adapt to new technologies, notably artificial intelligence (AI).
In fact, 60% of financial directors surveyed plan to invest in technological projects in the coming years, particularly in AI. This development aims to improve the analysis of financial data and support strategic decisions within companies.
According to the survey, 10% of companies have already deployed initiatives carried out by their parent companies at the level of Moroccan entities, while more than 34% of the companies surveyed indicated having implemented local initiatives.
Finally, 56% of CFOs surveyed reported low to very low use of artificial intelligence, indicating that integrating these technologies presents challenges in implementation, employee training and change management. .
“Technologies such as AI and Machine Learning are now essential for financial departments. These technologies, once theoretical, are now essential. Certainly, they carry risks, but they offer immense opportunities,” noted Kenza Sabouni, PwC Partner in Morocco.
By integrating AI into overall strategic thinking, financial departments can help their companies seize the opportunities offered by digitalization and technological innovation, while ensuring optimal risk management, she explained.
And to support: “Financial departments, with their mastery of figures and analysis, are on the front line to drive this change, contributing to the creation of value through intelligent and proactive data management”.
At the same time, sustainability issues are also becoming increasingly important for financial departments. The study shows that 66% of respondents wish to integrate CSR criteria into their performance reviews, thus illustrating the growing desire of companies to combine financial performance and social and environmental responsibility.
This study echoes the study on the key issues of CFOs from PwC France and Maghreb and which is in its 14th edition. PwC France and Maghreb’s strategic ambition is to become the benchmark player in creating trust and sustainable business transformation, in line with the global strategy of the PwC network, The New Equation.
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