“I saw an opportunity to improve Argentina's airline accounting systems.”
- Business/Professional Services
- Year selected
While taking a business and technology course at University of Buenos Aires, Guillermo saw the potential of using a combination of new IT systems and traditional accounting and payroll systems to push his family business into a niche in the airline industry: the clearing of tickets. Guillermo created an Airline Revenue Account Control System (ARACS) to improve the common dilemmas involved in airline accounting, and CEICOM quickly became a leader in its field. Its products are used by all of Argentina’s airlines.
CEICOM’s programs have been developed for use in 3 different languages (English, Spanish and Portuguese). They have been implemented in offices of more than 15 companies, and in 46 countries throughout the world. Clients have included: Aerolineas Argentinas, Austral, Aeroperu, British Airways, Dinar, Iberia, Lapa, Pluna, Varig, among others. Guillermo has since moved to Spain to launch CEICOM Europe. ARACS has become popular with major continental carriers and the company now has an extensive sales presence in Latin America, Europe and Africa.
CEICOM is a quickly growing provider of unique IT solutions for the airline industry. With four major products developed and distributed internationally, CEICOM targets an untapped market by providing a streamlined accounting system for airlines of varying sizes. The company’s ARACS family of products also serves as a tool to optimize the airlines’ costs by incorporating multiple levels of sales information, from travel agencies to credit-card monitoring and promotion control. CEICOM seeks to serve all of the major airlines in the world. Top airlines have invested in distribution, reservations, ticketing, check-in, and operations, but not in accounting systems.
The CEICOM products enable the airlines to, in real time:
• Identify fraudulent activities in any airplane ticket point-of-purchase from regional offices to individual travel agencies.
• Calculate the costs associated with the marketing and distribution of tickets through different channels and different points in each channel.
• Review the financial performance of regional sales offices from headquarters.
• Better manage receivable collection from travel agents.
• Allocate distribution costs to individual routes based on where tickets for different routes are sold.
Endeavor and Computación CEICOM
In addition to mentorship, Guillermo has benefited from a Wharton eMBA (who developed a business plan), an Entrepreneur Summit, and customized services such as introductions to investors and potential strategic alliances.
He has demonstrated commitment by performing second-opinion review of candidate companies.