Adil El Ouali
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Digital transformation and improvement of management control: Empirical study in financial institutions
El Mahdi El Massaoudi, Ahmed El Hammoumi
, Nabil Seghyar
, Adil El Ouali
doi: http://dx.doi.org/10.21511/imfi.22(3).2025.34
Investment Management and Financial Innovations Volume 22, 2025 Issue #3 pp. 455-469
Views: 46 Downloads: 3 TO CITE АНОТАЦІЯType of the article: Research Article
Abstract
In developing economies, financial institutions are positioned as a catalyst for economic innovation, yet there is little empirical research linking digital transformation to an enhanced management control function within these institutions. This paper investigates the relationship between digital transformation and the management control function in financial institutions, based on a study conducted in Moroccan financial institutions.
A quantitative survey, conducted in 2025, focused on 149 controllers from about 90 Moroccan financial institutions. Clearly, the sample size was limited, and the representation was justified. Five hypotheses were tested in a regression analysis. The findings confirmed a positive relationship between the management controller effectiveness and the use of digital levers. Evidence indicated that automation had the most influence, followed by the implementation of Business Intelligence and Big Data, followed by Cyber Security, followed by Cloud-enabled mobile. Data visualization also had a weaker but significant impact. These findings were consistent with previous literature regarding the Moroccan context. It was encouraging finding that the use of digital levers in management control provided operational efficiencies, as well as assisting controllers in the strategic advisory aspects. However, we caution against overgeneralizing based on the limited sample size. It is recommended that further research be conducted in more diverse types of institutions and that this validation work be expanded by using future digital integrations such as artificial intelligence and predictive analytics.
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