serving more than 2,800 customers. Baan’s net revenues have increased from $47 million
in 1992 to $736 million in 1998. The Baan Series is its primary enterprise system, which
incorporates a variety of functionalities from sale order management and manufacturing
to supply chain management. Since October of 1998, Baan suffered a series of setbacks
including management turmoil, accounting irregularities, multiple-quarter losses and CEO turnover.12