Satyam Scandal Possibly Coming to a Business Near You

Ever heard of Satyam?

This Indian computer business provides outsourcing services for a third of the

Businesses around the world are still digesting the news, which observers say could have wide-reaching effects for those that utilize Satyam and other Indian companies. This from the New York Times:

The revelations could cause a major shake-up in India's enormous outsourcing industry, analysts said, and may force many large companies to investigate and perhaps revamp their back offices.

No sign yet if "India's Enron" will affect Arizona companies - there's still no word in the Republic about this, but business writers are probably working on a local version of the story.

Needless to say, companies ought to be peering closely at their "back offices." When a company is accused of planting spyware in its clients' computers and the CEO admits a billion dollars in assets don't really exist, maybe it's time to try insourcing.

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Ray Stern has worked as a newspaper reporter in Arizona for more than two decades. He's won numerous awards for his reporting, including the Arizona Press Club's Don Bolles Award for Investigative Journalism.