Final answer:
An integrated cost management system reduces redundant storage and use of data (d). It aids in the projection of data for future use, helping in cost prediction and strategic planning, and is not primarily focused on external reporting.
Step-by-step explanation:
The true statement about an integrated cost management system is that it reduces redundant storage and use of data. Integrated cost management systems are designed to streamline cost information, ensuring that it is accurate, accessible, and useful for multiple purposes. Unlike systems that are solely for external reporting, integrated systems can integrate various types of cost-related data, which helps in better decision-making and forecasting.
These systems encourage projection of data for future use, playing a crucial role in cost prediction and management. By leveraging historical data and sophisticated models, companies can predict future costs and make more informed decisions regarding their operations and finances.
Furthermore, an integrated cost management system isn't primarily concerned with outputs for external users; instead, it equally benefits internal management by providing the information necessary for effective cost control and strategic planning. It is a crucial tool in the modern business landscape where data-driven decisions can mean the difference between a profitable business and one that struggles to stay afloat.