ASX-listed mining company IGO faced risks and inefficiencies from complex, spreadsheet-heavy reporting and long-term budgeting processes. QMetrix integrated a modern FP&A solution with their Pronto ERP, automating month-end consolidation to the click of a button and establishing a single source of truth for both financial and physical mine data.
Independence Group NL (ASX: IGO) is a leading ASX-listed exploration and mining company headquartered in Perth, Western Australia. With a strategic focus on high-quality assets of scale and longevity, IGO aligns its business with the global structural shift towards energy storage through nickel, copper, cobalt, and gold mining operations.
The challenge: Managing complexity and spreadsheet risk
As IGO grew, its financial reporting and budgeting processes became heavily dependent on complex, layered Excel spreadsheets. While functional, this spreadsheet-based setup was increasingly difficult to maintain and posed operational challenges:
- Lack of integration and version control: Manual linking between multiple spreadsheets opened up risks of broken formulas, data inconsistencies, and version conflicts across entity reports.
- Time-consuming consolidation: Preparing financial and budgeting data required labour-intensive manual work, taking days out of every reporting cycle.
- Complex long-term planning needs: As a mining organisation, IGO required a system capable of handling granular physical and operational metrics alongside 20- to 30-year “life of mine” budgets.
IGO needed a robust, single source of truth to streamline entity consolidation, improve collaboration between corporate headquarters and mine sites, and de-risk their financial reporting.
The solution: Automated consolidation and driver-based planning
IGO engaged QMetrix to design and deploy a phased Financial Planning and Analysis (FP&A) framework tailored to their specific operational needs.
Phase 1: Automated financial reporting and ERP integration
QMetrix established core reporting structures – including general ledger and multi-entity models – directly integrated with IGO’s Pronto ERP.
By replacing manual data extraction with an automated link, entity consolidation went from a multi-day spreadsheet exercise to an automated, single-click process.
Comprehensive training was delivered across corporate and mine site teams to build alignment and confidence.
Phase 2: Driver-based budgeting and physicals tracking
Building on the foundation phase, QMetrix implemented a tailored budgeting and planning model.
This solution captures granular physical metrics (such as tonnage and extraction rates) alongside financial numbers.
These physical drivers directly inform financial calculations across multi-decade “life of mine” plans, ensuring operational assumptions translate accurately into financial projections.
“QMetrix has a proven track record of delivering results. They were dedicated to IGO as a client and gave us a sense of assurance that we would be able to achieve our goals.”
– Struan Richards, Group Finance Manager
The impact: Reduced risk and instant financial visibility
Partnering with QMetrix transformed IGO’s reporting and planning capabilities into an agile, trustworthy operation:
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