With the problems being faced by Invensys and the almost obvious recession that is hitting the IT industry, does Baan as it currently stands have a future in the IT market, and if not, what can it do to improve its standing?

Recession has affected many companies, especially Manufactring companies where BaaN is strong. These companies will give second thought before investing in any further version, add-ons.
The main reason is these activites involve huge cost.

BaaN should think of giving very cost effective solutions which will force customers to implement. Also they can think of reducing annual licence cost.

What say???

I agree, plus lowering the cost of the licenses to small companies. Plus finally showing that the modular system (that they tried to sell last year) actually works in the right way. It was supposed to be like Office and you could just buy what you wanted to use at a discounted rate. As far as I know, no-one took it.