For Hawaii businesses, the rapid acceleration of technology has the potential to solve many operational problems. However, harnessing new technologies can be a challenge when a lack of skillsets or a large scope can be too much for one company to handle. But what if competitors could work together to use technology to solve common problems, rising the tide for all organizations in Hawaii?
In February 2020, Hawaii executives and change agents launched the TRUE Initiative at the Entrepreneur’s Sandbox in Kaka‘ako. TRUE is an acronym for technology, readiness, user, evaluation.
Created in partnership with the Hawaii Technology Development Corporation, the state of Hawaii, and local universities, the TRUE Initiative aims to accelerate technology-based solutions to everyday business problems through collaboration. This innovative approach is improving the technology IQs of Hawaii businesses.
“There are immediate opportunities for Hawaii businesses to utilize technology to achieve significant operational efficiencies,” says Leilani Farinas. In November of 2021, Farinas took on the role of executive director of TRUE. “TRUE is focused on providing an environment for our local organizations and workers to learn about these solutions from one another in a collaborative environment.”
One TRUE Initiative success story involved Central Pacific Bank. CPB was having problems with their help desks and call centers. Agents couldn’t access systems to resolve problems because they suffered from staffing instability due to the pandemic, a lack of customer satisfaction metrics, and a lack of IT platform integration.
A solution was found and implemented through the TRUE Initiative process working with student interns. Instead of hiring more people or making iterative improvements to their existing structure, CPB invested in an artificial intelligence and cloud solution. They successfully piloted the Amazon Connect product leading to a 33% decrease in wait times, a 70% decrease in call volume, and a 153% increase in customer satisfaction.
“We learn from each other. Collaboration just makes the use of these technology solutions easier and faster to implement,” says Farinas. “Collaboration is also fundamental to TRUE as an organization. TRUE’s collaboration extends wide into the community, engaging with our member organizations, state agencies, students, and local businesses to collaborate and solve problems.”
Through hands-on leadership and financial support from CPB Foundation and other innovative Hawaii businesses, the TRUE Initiative provides networking, workshops, and programs designed to accelerate the adoption of technology. TRUE allows competitors to become collaborators, creating an open environment that empowers Hawaii businesses to share their work and quickly benefit Hawaii’s consumers and workforce – the true winners of this initiative.
Farinas is excited about the future of the TRUE Initiative. “TRUE’s efforts aim to provide a solution for living a better life in Hawaii. We will contribute towards tech-enabling our workforce to help them make a better living in a high-cost environment. TRUE will continue to be a resource and advocate for technology adoption.”
For more information, visit https://www.hec.org/true/.
Since 1954, Central Pacific Bank’s mission has been to bring the aloha spirit to banking. CPB stands for inclusivity, opportunity, and doing the right thing for their customers so that, together, they can build a stronger Hawaii.