"Working with this team is like having a true partner invested in your business journey—they’re there for the highs, the lows, and everything in between. Navigating the C-suite can be isolating, but having a trusted advisor to discuss both challenges and opportunities is invaluable. Their expertise spans both theoretical knowledge, like understanding complex legislation, and practical insights drawn from real-world experience. This combination allows them to foresee potential consequences, both intended and unintended, helping us make more strategic decisions for the future. We couldn’t be happier.”
Kris Black - CEO Consillion Software
Consillion Software - case study
25 November 2024
A partnership driving transparency, efficiency and global success.
Client
Consillion is a global leader in cash management solutions, offering a wide array of cash automation products, from desktop note counters to large self-service devices. With supply agreements across major sectors—banks, retail, healthcare, hospitality, and entertainment—Consillion’s offerings either come from leading tech partners or are manufactured in the UK. Over the past eight years, Consillion’s revenue has nearly doubled, reaching $72 million this year, positioning them as a top player in cash management through innovation, strategic partnerships and acquisitions.
Need
In 2016, Consillion recognised that scaling the business required having the right talent in the right roles and optimising their business processes. Consillion’s CEO Kris Black recalls the initial interaction with Forvis Mazars (then Mazars), stating, “Originally, Forvis Mazars was advising the opposing team on a transaction, and I noticed how well they represented their clients. I wanted that expertise on our side.”
Consillion engaged Forvis Mazars to streamline their accounting processes and to support the selection, implementation, and migration of an ERP system. “We were looking for a trusted partner to quantify and address our challenges and that’s where Forvis Mazars came in. Enhancing our governance framework opened opportunities for optimised performance by providing greater transparency and insight,” Kris notes.
The Consillion and Forvis Mazars relationship has deepened over time as the business has grown. “We needed a provider we could inherently trust, someone with experience in these types of issues and connections with regulatory bodies. Forvis Mazars was that partner for us.”
Results
Forvis Mazars delivered a suite of advisory, outsourcing, tax, and acquisition services, enabling Consillion to streamline accounting processes, implement a new ERP system and strengthen its governance framework. This foundation allowed for better management decisions across compliance, governance, and performance.
“Forvis Mazars understands how to solve complex issues and work through them constructively. By gaining insight into seasonal variations and year-on-year performance, we could make better management decisions,” shares Kris.
As Consillion expanded into Singapore and separately acquired a manufacturing business, Forvis Mazars provided critical compliance and due diligence support. “Forvis Mazars rode the highs and lows with us, reinforcing the compliance and governance needed for both domestic and international growth.”
In October 2024, Consillion was acquired by Seasami, a multinational company owned by Garda World, recognising Consillion’s strong business model and growth potential. “Securing a sale to a multinational was a significant achievement, and having Forvis Mazars’ input was invaluable. From one piece of tax advice alone, shareholders saved 1.4 times the total fee paid to Forvis Mazars.”
With Forvis Mazars’ global reach, Consillion has collaborated with its offices in the UK, Canada, Sweden, and Thailand, benefiting from a truly international advisory network.