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Parchment’s New Comprehensive Credentials Management Platform Drives Q1 Growth

SCOTTSDALE, AZ  (Thursday June 1st, 2017)–  Parchment, the most widely adopted digital credential management service today announced its 2017 first quarter activity report.  At a time when the value of academic credentials is under a microscope, colleges and universities are looking for improved ways to communicate what their students know and how well they know it. Today, there are more than 9,000 academic organizations, testing services, employers and licensing boards that rely on Parchment’s platform to issue, collect and share a variety of academic credentials.

With the launch of Parchment Award, conferring institutions are now able to issue digital diplomas and digital certificates in addition to the digital transcripts they already issue. Now the most comprehensive digital credential management service, Parchment Award allows for the digital issuing, claiming, sharing and verifying of digital diplomas and digital certificates. When institutions issue digitally, the learner is empowered to collect and manage all of their credentials in their free Parchment account, providing any-time access.

“2016 was a transformational year for Parchment. We listened closely to our member institutions and continued our investments to provide the most comprehensive digital credential management service to meet, and exceed, their needs,” said Matthew Pittinsky, Chief Executive Officer of Parchment. “It was wonderful to see winter 2017 commencements where institutions issued digital diplomas and those graduates responded with remarkable engagement, sharing across multiple social media platforms to celebrate their achievement and promote their education qualifications.”

In the opening quarter of 2017, Parchment Issued digital diplomas via Parchment Award with Clark Atlanta University, Texas A&M University-Corpus Christi, University of Central Missouri, and the University of Nebraska at Omaha. Other digital diploma and digital certificate issuing organizations boast digital credential claim rates between 14 – 18 percent. From launch (at various times after January 1) through March 31, 2017, learners at issuing schools have recorded an average claim rate of 67 percent.

Taking a look in the rear-view mirror at the first quarter of 2017, Parchment maintained consistent growth in its institutional network reach which, in turn, yielded additional learners registering with Parchment services, creating additional transactions with member institutions.

Institutional Member Network Growth

As of March 31, 2017, more than 4,600 credential issuing institutions rely on Parchment services for the secure and trusted delivery of digital academic credentials. The Parchment network scales greater when adding the 4,300+ organizations actively receiving and/or verifying digital credentials via Parchment. At the end of the first quarter, the Parchment network surpassed 9,000 active members. For the period, Parchment activated 107 institutional members including, but not limited to, Laguna College of Art and Design, Park University, University of Colorado, Colorado Springs and Western Connecticut State University. For the last twelve month (LTM) period, Parchment activated nearly 500 secondary schools and universities on the network.

Learner Registration Growth

With more schools joining the Parchment network and with more digital credential types available, new learner registrations continued to soar in the first quarter of 2017. New learners registering with Parchment services spanned both high school and collegiate learners and approached 750,000. For the LTM period ending March 31, 2017, nearly 3 million learners registered with Parchment.  

Credential Transaction Growth

In the first three months of 2017, Parchment facilitated almost 2.6 million academic credential orders including transcripts, GED, diplomas and more. For the LTM period, Parchment proudly fulfilled more than 8.9 million credential requests for learners looking to turn their credentials into opportunities.

Other notable events recorded in the first quarter of 2017 include:

  • Launched the Parchment Member Status Program for K12 senders to further support adoption of Parchment send services. Similar to a frequent flier program, the Member Status Program serves to inform high school counselors of their adoption level and offers incentives to advance to higher levels.
  • Hosted the fifth annual Parchment user conference, “Parchment Connect National”, March 2-3 in Washington D.C. More than 150 Parchment member secondary schools and universities convened over two days to discuss everything from how a university approaches the development of a co-curricular transcript to new enhancements to Parchment services, including USPS and FedEx tracking on all credentials printed and mailed by Parchment.
  • Delivered the second annual Parchment Summit on Innovating Academic Credentials bringing together more than 225 leaders and influencers from higher education and the workforce. While traditional academic conferences bring together experts from the same job function (i.e. registrars, admissions, career services), the Summit brings together the many different functions of the University that are involved with credential innovation. The 2017 event expanded further to include influencers from the workforce to further bridge the communication gap with higher education.

About Parchment

Parchment is the most widely-adopted academic credential management system available, allowing learners, academic institutions, and employers to request, verify, and share credentials in simple and secure ways. The platform has helped millions of people and thousands of schools and universities exchange more than 20 million transcripts and other credentials globally. Founded in 2003, Parchment Inc. is headquartered in Scottsdale, AZ, with offices in Roseville, CA, Denver, CO, Grand Rapids, MI, Toronto, ON and Washington, DC. Follow Parchment on Twitter, Facebook and LinkedIn.