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An honest comparison

The VSME template: free Excel vs a guided flow

EFRAG publishes a free VSME template, and you can absolutely use it. This page is an honest look at what the spreadsheet does well, where it leaves you stuck, and when a guided flow over the same standard is worth it.

Let us be straight: the free EFRAG VSME template exists, it is legitimate, and for a confident user with the data to hand it is enough. We are not going to pretend otherwise. What follows is where a blank spreadsheet of cells tends to slow people down, and what a guided version adds on top of the same VSME structure.

What the free template gives you

  • The full VSME Basic Module structure, for free.
  • A place to enter every datapoint.
  • No cost and no signup.

Where a spreadsheet leaves you stuck

What mattersFree EFRAG ExcelGuided flow
Knowing what each field meansA hundred cells, no guidanceA plain line per datapoint
Seeing what is missingYou find out when it is rejectedA gap list of every required field left blank
Something you can sendA raw spreadsheetA clean, branded report you print to PDF
Both languagesOne template, one languageAnswer and read in English or German
Staying currentYou track EFRAG revisions yourselfThe structure updates for your next report

When to use which

If you know the standard, have your numbers ready, and are comfortable handing over a spreadsheet, the free template is fine. If you want guidance per field, a clear list of what you still need, and a report you would actually be happy to send to a bank, the guided flow earns its place. The first report is free, so you can compare without committing.

Same VSME structure underneath. The difference is guidance, gap detection, and a presentable output.

Common questions

Is the guided flow just a nicer spreadsheet?

It uses the same VSME Basic Module, but it explains each field, flags what you have missed, and produces a report you can send rather than a raw grid of cells.

Do I have to pay to try it?

No. The first report is free, so you can produce one and compare it to the spreadsheet before deciding.

Try the guided flow free

Same VSME structure as the free Excel, plus per field guidance, a gap list, and a report you can send. First report free.

Start free