In the ever-evolving landscape of higher education, it’s important for institutions to keep up with the latest trends and technologies; that’s why the recent acquisition of Quottly (in late March 2023) by Parchment, Inc., otherwise known as Credentials Solutions Parchment (following the early 2020 merger of both companies by Brentwood Associates, a private equity firm), is making waves in the industry.
This strategic move promises to benefit both students and institutions by creating a more seamless, integrated experience for course and program sharing, transfer articulation, and dual enrollment.
In this article, we aim to explore the advantages of this acquisition and how it stands to revolutionize higher education.
Enhanced Student Mobility
A major challenge faced by many students in higher education is the difficulty in transferring credits between institutions, which can lead to a loss of time and money, considering they may need to repeat courses they’ve already taken.
With the acquisition of Quottly, however, Parchment aims to make it easier for pupils to transfer credits and complete their education in a more efficient manner within the eTranscript paradigm.
Quottly’s innovative platform simplifies the credit transfer process by enabling students to search for and enroll in courses at different institutions; the incorporation of this platform into Parchment’s credential service seeks to make the process even smoother, allowing for a sander transfer of credits between institutions.
This enhanced student mobility will empower students to take control of their education and create a more personalized learning experience.
Streamlined Transfer Articulation
Transfer articulation, or the process of determining how courses from one institution will be accepted by another, can be a complex and time-consuming task for students and institutions alike. However, Quottly’s merger into Parchment will restructure this process by providing an efficient and transparent method for assessing course equivalencies.
Quottly’s course and program sharing platform, now fully integrated into Parchment, will enable institutions to better evaluate and accept transfer credits, saving time for both students and institutions, as well as minimizing the risk of the former losing credits during the transfer process; the result is a more efficient allocation system that benefits everyone involved.
Improved Dual Enrollment Opportunities
Dual enrollment programs have become increasingly popular as a means to reduce the cost and time spent on higher education; the acquisition of Quottly is bound to make it easier for high schools and colleges to collaborate on this sort of programs, ultimately providing more opportunities for students.
Quottly’s platform, in fact, will allow high schools to easily search for and connect with colleges that offer compatible dual enrollment courses, thus making the process of enrolling in and receiving credit for dual enrollment courses far more efficient and transparent; as a result, students will have access to a wider range of dual enrollment options, and institutions will benefit from increasing partnerships with high schools.
Cost Savings for Students and Institutions
By streamlining the processes of credit transfer, transfer articulation, and dual enrollment, Parchment’s acquisition of Quottly will lead to significant cost savings for both students and institutions – the former will be able to complete their degrees more quickly and efficiently, reducing the overall investment in their education, whereas the latter will save time and resources by using a more efficient system for evaluating and accepting transfer credits, as well as collaborating on dual enrollment programs.
In the future, Parchment is set to focus a great deal more on stackable credentials, meaning it will store in its systems high school, associate degree, undergraduate degree, and possibly postgraduate degree transcripts, thus preserving students’ progress throughout their academic journey.
Quottly, on the other hand, is bound to help students navigate that exact, same journey by handling the logistics inherent to transferring from one institution to another as they move forward in their studies.
Enhanced Data Analytics and Reporting
The acquisition of Quottly by Parchment will provide institutions with more comprehensive data analytics and reporting tools, enabling them to better track student mobility, transfer trends, and dual enrollment participation, ultimately leading to more informed decision-making and improved institutional outcomes.
With access to more accurate and detailed data, institutions will be able to identify areas where they can improve their transfer and dual enrollment processes, as well as recognize successful initiatives that can be expanded upon.
This data-driven approach will help institutions optimize their offerings and better serve their students, ultimately contributing to higher retention and graduation rates.
Parchment’s purchase of Quottly represents a significant step forward in the higher education landscape – the combined strengths of both companies is set to revolutionize the way students and institutions navigate the complexities of credit transfers, transfer articulation, and dual enrollment.
It is a partnership bound to enhance student mobility, streamline processes, improve collaboration, and ultimately lead to cost savings and better outcomes for all parties involved.
As the landscape of higher education continues to develop, it’s crucial for institutions to stay ahead of the curve by embracing new technologies and partnerships that will benefit their students.
The leveraging of the power of Quottly’s platform, together with Parchment’s solutions, will be able to provide a more seamless, efficient, and personalized experience for their students, while simultaneously improving their own processes and outcomes.
In the end, it’s a win-win for everybody.