Software part of “Managing Through the Fiscal Crisis” Initiative 

Salinas CA – March 6, 2008:  In its continued efforts to support school districts by helping  accounts receivable personnel manage their finances through fiscal cuts, Digital Schools of California, LLC is offering iStream Deposit, an iStream Imaging® product to assist districts in enhancing productivity and controlling the financial transaction process. The iStream Imaging provides secure connectivity to major check clearing channels. The core strategy of iStream Imaging is to minimize the costs of check handling while maximizing productivity.

“IStream Imaging is a clear leader in the electronic check clearing industry,” said Sarah Beyne, Digital Schools CEO. “The iStream Deposit product is a clear indicator of the strength and innovation they bring to check clearing. For years they have benefited any number of businesses, so we recognized the importance of bringing these same benefits to the educational sector.”

“IStream Deposit is used by accounts receivable personnel at the Site, District and/or County level,” explained Chuck Emerick, Digital Schools Sales Manager. “It works with your computer, high speed Internet access and proprietary scanning tools to move checks seamlessly from your site, as often as daily, to your depository institution electronically.”

Benefits to the education sector include the ability to deposit on demand or even make multiple deposits a day with no need to visit the depository institution. This enables the district to extend the deposit timeframe, increase funds availability, and avoid missed deposit deadlines. There's no need for more than one banking institution to deposit checks. iStream Deposit allows for checks to be deposited into one account with any bank of your choice.

Other benefits include:

• Eliminate duplicate posting entries and posting errors by downloading deposit batch files already reconciled through iStream Deposit into your existing accounting system.
• View all location information at the same time. Information is secured using SSL encryption and pre-determined access rights ensuring the protection of confidential information.
• View checks at a moment's notice.

The iStream Deposit reporting system assists in providing information that can enhance business practices and cash flow management and allows the user to simply query through past checks online.

The cost is just cents per transaction and the initial cost of scanner purchase,” said Emerick. “The return on investment achieved through benefits realized including additional interest earned.”

Digital Schools corporate offices are located in Northbrook, IL; Digital Schools of California is located in Salinas California with an additional location in Stockton, California. Digital Schools of California serves a large number of k-12 districts with its Digital Schools Suite, which provides position control, budgeting, payroll capabilities. It is viewed as the market’s most comprehensive resource measurement and management offering.