There are 1 Companies in Morocco
that provide Finance & Accounting Outsourcing (FAO) Services!

Morocco aims to position itself as a strategic hub in the Middle East and North Africa by becoming one of the top-performing countries in the region in terms of datacom infrastructure and IT business environment. 

In order to promote Morocco as an attractive destination for outsourcing services and an anchor in the global digital movement, the government has lifted the ban made by the Telecommunications Regulatory National Agency (ANRT) over internet protocol (VoIP) services.

According to a report published by The Brooking Institution in October 2016, the VoIP ban resulted in US$320m of economic loss for Morocco during the first half of 2016.

In terms of digital progress, Morocco still struggles with disparities in access to computer technologies in crucial sectors. Even though 60% of Moroccans had access to the internet last year, the country’s 2019 network readiness index remains relatively low, ranking 78th out of 139.

Why you should work with Morocco IT companies

Low prices and experienced professionals are the main reasons why Morocco managed to attract direct foreign investments from international companies and organizations. Since the country has focused a lot on BPO services, it may be challenging for locals to establish their own IT and digital companies in a country with a poorly developed IT industry. 

What you should pay attention to when working with Moroccan IT companies

The local IT companies are mainly focusing on BPO, due to a poor-developed IT infrastructure. The only valuable resource remains skilled professionals, that over time earned valuable experience, and have increased the country’s performance in the field of digital services. 

How reliable are Moroccan IT companies

In terms of reliability, Moroccan IT companies benefit from foreign companies’ reputations. 86% of all IT companies from Morocco are multinational or international agencies and investors aiming to attract a low-cost and decent quality workforce. 

The main investors in the Morocco IT industry are French tech companies, which are extending their network and influence in North-Africa and Mediterranean regions.

How does the Moroccan IT industry relate to the neighboring countries?

The close proximity to Spain, makes Morocco look weak in front of new technology challenges and the poor-developed IT infrastructure, with banned services and risk to terrorism, gives no chance to the country to compete with Spain or Portugal in South-West Europe. 

On the other hand, Morocco is probably the most developed country in North Africa and has the potential to achieve what it was aiming for in the first place - A strategic regional hub. However, Morocco needs strong financial support from the international community and also transparency and democratic institutions to lead the necessary reforms for the country’s development overall, and particularly in the IT industry. 

Finance & Accounting Outsourcing services involve partnering with specialized IT companies to delegate financial and accounting functions, allowing businesses to focus on their core competencies. These services encompass a range of offerings such as bookkeeping, payroll processing, tax preparation, and financial accounting providing comprehensive support for commercial development.

According to Grandview research, the global finance and accounting business process outsourcing market was valued at USD 56.42 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2023 to 2030.

If you decide to team up with a specialized IT company for their Finance & Accounting Outsourcing needs, here’s a list of benefits you might be interested in:

• Cost Savings: Outsourcing financial functions eliminates the need for hiring and training in-house staff, reducing overhead costs and achieving operational efficiency.
• Expertise and Knowledge: Specialized IT companies provide access to a team of skilled professionals with extensive experience in financial management and accounting practices.
• Compliance and Accuracy: Outsourcing financial tasks ensures compliance with regulatory requirements and accounting standards, minimizing the risk of errors and penalties.
• Scalability and Flexibility: Finance & Accounting Outsourcing services can easily scale up or down based on business needs, adapting to changing requirements.
• Focus on Core Competencies: By delegating financial functions, businesses can allocate their time and resources to strategic initiatives, innovation, and business growth.

At the same time, it’s important to choose the right service provider for your needs and requirements. That’s why when choosing a Finance & Accounting Outsourcing provider for a project,  we recommend you to consider the following criteria:

• Industry Expertise: Look for providers with experience in serving businesses in your industry, as they will better understand your specific financial needs and regulatory requirements, taking a look at the year when the company was founded, or, the number of real customers can be a good starting point to track their expertise.
• Service Offerings: Assess the range of services offered by the provider to ensure they align with your organization's financial requirements, such as bookkeeping, tax preparation, financial analysis, or payroll processing.
• Security and Confidentiality: Verify that the provider has robust security measures in place to safeguard your financial data and ensure confidentiality.
• Technology and Infrastructure: Evaluate the provider's technological capabilities, such as accounting software proficiency and infrastructure, to ensure efficient and accurate financial management.
• Client References: Seek references and review feedback from past or current clients to gauge the provider's reliability, responsiveness, and quality of services.

TechBehemoths can assist in choosing the best Finance & Accounting Outsourcing companies for your projects. With a comprehensive directory of over 160 companies offering Finance & Accounting Outsourcing services, TechBehemoths.com simplifies the selection process. At the same time, you should keep in mind that this is an outsourcing service, which means that by contracting a company providing this service, it is possible to lose the location comfort in exchange for a lower price offer.