What is the need for a spend analysis system? a) To make businesses more efficient. b) To extract useful information and knowledge from large vol...

The need for a spend analysis system is to extract useful information and knowledge from large volumes of data. This allows businesses to make informed decisions and improve their efficiency. However, it is important to note that spend analysis systems can also help reduce company expenses through expense analysis, supplier analysis, and commodity analysis, as well as control and optimize company expenses through spend management. Therefore, the correct answer is option e) All of the above.