PracticeConsultingBaan ‘loses’ Sydney office.

Baan 'loses' Sydney office.

Financial management at fallen accounting software giant Baan was so weak that the company was unaware it had an office in Australia, Accountancy Age has learned.

Invensys, the UK engineering and IT giant, took control of Baan in August, axing most of Baan’s management team. The development came to light when Baan carried out its due diligence on subsidiary Coda as it attempted to sell the company to Science Systems.

The procedure failed to take into account the existence of Coda’s Sydney office, despite it actively servicing a 40-strong customer base. Coda officials informed its parent group of the error, enabling it to confirm the absentee belonged to the company. A Coda spokesman told Accountancy Age this week: ‘The Sydney office was not included in the package and the management team did not give the impression they were in control of their operations.

‘The management had to go away and confirm with Baan Australia that Coda Australia did exist and we had to tell them who to ring to find out the situation. The Baan team also came to us to ask what the office maintenance stream included’.

A Invensys spokeswoman added: ‘This situation reflects the management approach that existed before the takeover and is indicative of the changes we have made since’.

Invensys buys Baan www.accountancyage.com/IT/1108007

www.coda.com.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

3m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

9m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

10m Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

11m Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

11m Stephanie Wix, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

10m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

10m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

10m Kevin Reed, Writer