Electric distribution utilities are paying more and more attention towards enhancement of end-user supply reliability and power quality. “Self-heal” nature of distribution network is gaining interest in the industry. With deployment of distribution automation applications, they can not only achieve these performance goals but also improve situational awareness, and reduce the financial penalties they incur due to system outages. Fault Location, Isolation and Service Restoration (FLISR) is one of the key distribution automation application, which can significantly reduce outage time to the end customers. At the same time, standardized automation system based on IEC 61850 is proliferating in the market. This paper proposes a fast FLISR algorithm using IEC 61850 based Generic Object Oriented Substation Event (GOOSE) technology. The challenges and possible solutions while commercially deploying such smart applications are discussed in further detail.