Tell us a little about yourself. What does your job at Telefónica involve?
I currently work in the Finance Department of the Bluevía Fibra subsidiary. Specifically, I am responsible for Treasury and Finance. My main tasks are controlling cash inflows and outflows, both operational and financial collections and payments, preparing cash flow forecasts to identify potential liquidity risks, and planning payments to suppliers.
In addition, I maintain ongoing relationships with financial institutions and collaborate with other areas such as Tax and Internal Audit, also participating in internal and external audits. All this with the aim of ensuring the availability of financial resources and contributing to the economic stability of the company.
My role also involves constant supervision of financial processes to ensure that they are aligned with internal policies and Telefónica group standards, which requires strategic vision and the ability to adapt to a constantly changing environment.
What is the importance of accounting and finance departments in companies?
Regardless of the size of a company, a finance department is essential. It is fundamental to manage and control the company’s capital and ensure proper coordination with other areas, so that we have accurate financial data that allows us to identify potential problems in a timely manner and take the appropriate measures to correct them.
Within the finance area, one of the most important functions is accounting, which is responsible for recording all the company’s financial transactions in accordance with accounting standards and current legislation, preparing the accounting books and the company’s financial statements. This information not only ensures regulatory compliance, but also serves as a basis for strategic decision-making and business sustainability.
A good finance department acts as a guide and support for the rest of the departments, helping to maximise available resources and anticipate potential risks or deviations.
What is your day-to-day work like?
The first thing I do every day is check the daily bank position, the incoming and outgoing transactions. These transactions are the actual figures on which cash flow forecasts are based.
But from then on, the day is very dynamic, as Bluevía was only set up two years ago, so we are at a stage where a number of very diverse processes are being developed, which means that I alternate between more routine tasks and tasks that allow us to participate in cross-functional projects, giving us an end-to-end view of the processes.
Every day is an opportunity to identify improvements, resolve incidents and propose solutions that facilitate the orderly growth of the company. In addition, working at Bluevía allows me to continue developing professionally by participating in decisions that directly impact financial operations.
What are the tasks of those who work in these departments?
The fundamental tasks of the financial areas are accounting, budget control, cash management, handling payments, managing collections and financing.
Added to this are activities such as preparing financial reports, liaising with banks, complying with tax obligations and participating in both internal and external audits. In short, it is about ensuring the economic and financial stability of the company as a whole.
It is also important to liaise with other departments to ensure that all strategic decisions are backed by sound and up-to-date economic analysis.
Are accounting and finance the same thing? How do they differ?
Both activities are directly related, but they are not the same.
The purpose of accounting is to record economic transactions in accordance with the General Accounting Plan, enabling us to generate reports such as the balance sheet or income statement.
Finance, on the other hand, focuses on planning economic resources to facilitate decision-making and identify risks. Accounting reflects what has happened, while finance projects into the future, helping to anticipate possible needs or imbalances. Both areas complement each other to provide a global and strategic view of the company’s economic situation.
While accounting provides a snapshot of the past and present, finance looks ahead and helps to chart the course the company should follow.
What professional profiles should those working in these areas have?
The usual professional profiles in a finance department are graduates in business administration or economics, and sometimes an MBA is required. Specialisation in areas such as taxation, advanced accounting, treasury or auditing is also valued. In addition to technical training, it is important to have skills such as analytical ability, results orientation, strategic vision, and communication and collaboration skills, as you are constantly working with other areas of the company.
In my case, the experience I have gained in different environments and roles has given me a comprehensive overview and enabled me to add value to projects that require interdepartmental coordination and decision-making with a direct impact on profitability. Adaptability to change, proactivity and the ability to find solutions to complex situations are also key skills in this field.
Which people working at Telefónica would you nominate for this interview who you consider to be excellent at their job?
I would nominate Mercedes Herrero López.
