On January 23rd Morten and I joined other members of the FAST Moderation Board from Deloitte, Mazars, and Rebel Group at FAST Standard Organisation events in Rotterdam and Brussels.
From our perspective it’s interesting to see how the governance framework that has been put in place since the launch of the FAST Standard Organisation is enabling more and more companies to adopt the standard, knowing that they are not going to be “locked in” to one supplier for modelling and training services.
Together with a host of company executives, advisers, practitioners, academics and financiers from a wide variety of companies and organisations we had some great discussions about FAST.
Robert-Jan Bakker, Portfolio Manager from Pension Fund APG, discussed the benefits he’s seen as a result of using FAST. He noted that as modelling is never a solitary activity and that because we work together, as teams, as partners, as companies, then standardisation has clear benefits.
Kees Horcher, co-founder of Rebel, commented that while Rebel are known for normally eschewing standards, in the case of modelling they have found that adopting FAST has allowed them to focus on driving innovation in the area of analysis. He described how the standard allows Rebel to “create modules which make it very simple to build a new model. We can build a new project finance model in a less than week, for example.” He continued that “modelling speed is tremendously increased by using the standard”.