e-Transcripts Exchanged by Parchment Members Grow 75% Year-to-Year
1,688 Schools and Universities Joined the Parchment Network in 2012
SCOTTSDALE, AZ -- (Marketwire) -- 02/12/13 -- Parchment, the leader
in e-Transcript exchange, ended 2012 with a milestone year in the
adoption of e-Transcripts.
Parchment members exchanged a record 1.5 million transcripts through
Parchment's services in the fourth quarter, bringing the total number
exchanged in 2012 to nearly 2.8 million, which represents 75% growth
over 2011. Since inception, Parchment's services have delivered more
than 8 million transcripts to universities, associations, employers,
state licensing boards and other receivers of transcript data.
A total of 480 schools and universities joined the Parchment
e-Transcript network in the fourth quarter, with a total of 1,688
academic institutions joining in calendar year 2012. Parchment ended
2012 with 7,281 member institutions. Additionally, 2,688 non-member
(authenticated) high schools or colleges delivered transcripts to
Parchment members in 2012.
Parchment's growth reflects the accelerated pace of e-Transcript
adoption by schools and universities in the United States. The
benefits of e-Transcripts include savings from reduced paper
processing, increased operational e
fficiency from automation and
electronic workflows, improved student service, and increased
Commenting on a recent report on e-Transcripts by Eduventures, Rusty
Hartley, principal analyst at Eduventures, noted that while "...there
are multiple reasons for schools to adopt electronic transcript
exchange technology, the benefits extend throughout the educational
value chain and far surpass simple cost savings."
Among the colleges, universities and state education boards adopting
Parchment's services in Q4 are: Delaware County Community College,
New Mexico State University, Temple University, Columbia College
Chicago, and the Illinois State Board of Education.
"The decision to implement an e-Transcript solution was simple
because it's a win for everybody involved in the transcript exchange
process," said Columbia College Chicago Registrar Marvin Cohen.
"Students benefit from the convenience of sending e-Transcripts, and
our Records office benefits from a streamlined process, increased
efficiency, and reduced postage and paper costs. We chose Parchment
based on recommendations and what we were seeing at other colleges."
New high school members include Oxnard Union High School District in
Oxnard, Calif.; San Bernardino City Unified School District in San
Bernardino, Calif.; and Florida Virtual School, which served more
than 148,000 students in the 2011-12 school year.
"We were looking for a solution to provide our students with quicker,
more accurate service that streamlines the transcript exchange
process, and that's exactly what Parchment delivers," said Melissa
Ostrowski, counseling department coordinator at Penn Manor High
School in Millersville, Pa. "Students, parents and counselors can now
view the confirmation process online, rather than constantly
following-up to see if a transcript has been received. Implementing
Parchment removed six steps from our former process."
In addition to record membership and volume, Parchment achieved
several notable corporate milestones in 2012:
-- Raised $29.5 million across two venture funding rounds, providing
unparalleled resources in the e-Transcript market for investments in
innovation and member services.
-- Acquired Avow Systems, merging the Avow ADDS platform with Docufide to
create the largest electronic transcript network.
-- Expanded its executive leadership team with the addition of Robert
Colletti as Chief Financial Officer (previously CFO of Learn.com and
Eclipsys), Rajeev Arora as Vice President of Marketing and Jeff Dinski
as Vice President of Business Development.
-- Welcomed three new members to its Board of Directors: Josh Lewis
(current/prior Board experience includes Cappela University and
Pearson PLC), Ted Mitchell (current/prior Board experience includes
Khan Academy, Leapfrog, and New Leaders for New Schools), and Jeff
Sine (current/prior Board experience includes the Board of Trustees of
ITHAKA, a non-profit education and research institution, the USC
Annenberg School of Communication / Law Center Joint Venture, and
Chair of the Board of Trustees of American University).
-- Renewed its pioneering partnership with Hobsons, provider of Naviance,
to deliver e-Transcript services to thousands of secondary schools
that use Naviance eDocs as part of the Naviance college-and
-- Launched new analytics tools that provide "just-in-time" intelligence
on valuable transcript exchange metrics.
-- Established integration with eTranscript California, a statewide
exchange supporting e-Transcript delivery across all of the state's
"Tens of millions of transcripts are sent each year by academic
institutions in the United States," explained Parchment CEO Matthew
Pittinsky, Ph.D. "The vast majority of them are printed, mailed,
opened, often scanned and keypunched, consuming valuable resources in
education and adding friction to the mobility of learners across the
"Parchment's performance in 2012 demonstrates that schools and
universities are accelerating their adoption of e-Transcripts,
opening all sorts of doors for putting academic credentials to work,"
insky. "We sincerely appreciate the confidence our new
academic members have placed in us as a trusted intermediary."
Parchment is the leader in electronic transcript
(e-Transcript) exchange, allowing learners and institutions to
collect, promote and share their education credentials in simple and
secure ways. More than 7,200 active member high schools and
postsecondary institutions and seven statewide initiatives have
exchanged more than 8 million transcripts using the Docufide by
Parchment(TM) and Avow by Parchment(TM) SaaS platforms. Founded in
2003, Parchment Inc. is a venture-backed company headquartered in
Scottsdale, Ariz., with offices in Roseville, Calif., Denver, CO and
480-719-1646 ext. 1090
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