In 2010, we also continued our work on e-invoicing, increasing the number of Grand & Toy customers who choose to receive paperless invoices by 52% over 2009. Customers who made this smart choice helped us save nearly 250,000 pages of invoice paper during the year, while improving the accuracy, internal controls and ease of processing of their own accounts payable departments.

Since we encourage our customers to accept electronic invoices, Grand & Toy wanted to lead by example, and so we asked our own vendors to invoice electronically. This new program was initiated in late 2010, targeting 16 major vendors representing 40% of the invoices to be converted into an electronic format. Grand & Toy expects to eliminate approximately 52,000 pages of paper invoices annually which previously required storage for seven years.