Accelerated e-Transcript Volume and Network Membership Drives Strong First-Quarter Growth for Parchment - Tech Learning

Accelerated e-Transcript Volume and Network Membership Drives Strong First-Quarter Growth for Parchment

More than 65 high schools and colleges, including Capella University and Pittsburgh Public Schools, have joined the growing e-transcript and student record exchange network through Docufide by Parchment in the first quarter of this year to increase operational efficiency and save potentially millions in paper, postage and labor costs. Parchment, which doubled e-transcript volume in 2011 to 1.6 million, reports that the volume of e-transcripts exchanged through its industry-leading platform in first quarter of this year is nearly doubled over the same quarter last year. The rapid growth is an indication of the heightened demand for digital academic records as a stepping stone to academic analytics, with credentials data as a key factor in the equation.
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More Than 65 Campuses and one of the Largest Online Universities Join the Docufide.com Credential Exchange Platform; Year-Over-Year Activity Nearly Doubles

SCOTTSDALE, Ariz. (June 14, 2012) – Secondary and postsecondary education providers accelerated their embrace of electronic transcript (“e-Transcript”) exchange in the first three months of 2012, industry leader Parchment Inc. announced today. Volume of e-Transcripts exchanged through the company’s industry-leading Docufide® by Parchment™ network increased 92 percent compared to the same quarter last year.

Key factors driving demand among high schools and colleges include increased operational efficiencies and the myriad admissions and student retention applications enabled by transcript data. Capella University, NCAA, and Pittsburgh Public Schools were among more than 65 academic institutions in the first quarter of 2012 to join or expand their Docufide membership.

Parchment’s Docufide Software-as-a-Service (SaaS) platform enables the secure, rapid exchange of millions of electronic transcripts and other student records among a rapidly growing network of schools, state education agencies, scholarship organizations, and individuals. Once they’ve moved to a paperless system, education institutions can capture transcript data and conduct timely in-depth analysis to inform improvements to school administration, operations, instruction and student services.

“Parchment’s continued expansion reflects the ever-increasing demand for sharing and analyzing education credentials as data, both by individuals and institutions,” said Parchment CEO Matthew Pittinsky, Ph.D. “The value of Docufide as a trusted network for our academic partners increases with each sender, receiver and transcript exchanged.”

About Parchment
Parchment's mission is to unleash education credentials by unlocking the critical data they embody. A credentials data company, Parchment works with institutions and corporations around the world helping people collect, promote, and share their education credentials in simple and secure ways. At Parchment.com, students can research colleges and discover their chances of admission, see how they compare with peers, get college recommendations, and send official transcripts when they are ready to apply. The company's Software-as-a-Service (SaaS) offering, Docufide® by Parchment™, is the leading transcript exchange and intelligence platform. The solution enables the secure, rapid exchange of millions of electronic transcripts and other student records among nearly 9,000 schools and universities, six state education agencies, and hundreds of thousands of individuals. Founded in 2003, Parchment Inc. is a venture-backed company headquartered in Scottsdale, Ariz. Visit www.parchment.com/company for more information.

• Mark Cohen, Parchment, Inc., 480-719-1646 x1009, mcohen@parchment.com
• Kristen Plemon, C. Blohm & Associates, 608-216-7300 x18, kristen@cblohm.com

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