‘Quiet Revolution’ Gains Momentum as Parchment Delivers 4 Millionth e-Transcript

With a growing number of high schools and colleges joining Docufide by Parchment network, company on pace this year to once again double volume of transcript credentials delivered

SCOTTSDALE, Ariz. (Sept. 20, 2012) – Driven by an expanding network of secondary and postsecondary education providers, Docufide® by Parchment™ has now exchanged more than 4 million electronic transcripts (e-Transcripts). The industry-leading e-Transcript exchange network doubled the volume of e-Transcripts delivered in each of the past four years, and year-over-year growth is expected to double again in 2012. Institutions tapped Docufide to exchange nearly 1 million transcripts through the first six months of this year alone.

More than 30 percent of American high schools now deliver transcript credentials through the Docufide by Parchment network, which enables high schools to electronically transmit student transcripts and data to higher education institutions to support student progression. At the same time, more than 1,700 colleges and universities use Docufide Receiver – with an increasing number of higher education institutions sending e-Transcripts via Docufide as well. Registrations have been on the rise as schools look to replace the labor- and-time-intensive processes associated with preparing and sending paper transcripts and overcome the fundamental challenge of fragmented data – all while providing students with a more convenient and higher-quality experience during the admissions process.

“While not often discussed, there has been a revolution in which transcripts have shifted from being printed and mailed, then opened and scanned – to being exchanged electronically,” said Matthew Pittinsky, Parchment CEO. “There aren’t many other technologies that have been adopted by more than 30 percent of U.S. high schools in such a short timeframe without people talking about it. That’s why we call this a ‘quiet revolution,’ one that is fundamentally changing how education institutions talk to each other. At a time of greater student mobility, this new education data backbone is critical.”

Faced with budget cuts and higher costs, academic institutions are seeking new ways to increase operational efficiency. Beyond operational efficiencies, Docufide enables colleges to unlock the critical data that transcripts embody to understand what individual students know and how well they know it. Each exchange on the network informs powerful analytics around trading partner dynamics, which colleges can use to make better informed decisions that impact admissions, student placement in academic programs, retention, and completion.

About Parchment
Parchment is the leader in electronic transcript (e-transcript) exchange. More than 9,000 high schools (over 30 percent of the U.S. secondary school market) and postsecondary institutions have exchanged 4 million transcripts using the Docufide by Parchment™ SaaS platform. Beyond providing the cost and operational efficiencies of electronic transcripts, Parchment works with learners and institutions around the world to unlock the value of transcript and credential data – 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. Founded in 2003, Parchment Inc. is a venture-backed company headquartered in Scottsdale, Ariz. with offices in Roseville, Calif. and Washington, D.C. Visit www.parchment.com/company for more information.

Media Contacts

• Rajeev Arora, Parchment, Inc., 480-719-1646 x1090, rarora@parchment.com

• Kristen Plemon, C. Blohm & Associates, 608-216-7300 x18, kristen@cblohm.com