Commit your Excel workbook to a Git repository.
I know it's a binary file so you can't diff or merge out of the box, but at least you get the commit history.
Does that make more sense?
If you want version control, then sure use that. Or stor in dropbox/drive which have version control...
I am sure many people use many different tools for this. Most large enterprise companies, such as biotechs and legal, use document management platforms for this purpose.
90% of our clients/prospects are in financial services (heavy workbooks with VBA, think applications, not spreadsheets) but today I spoke to a prospect from a different industry which made me think that there might be people outside banks, hedge funds going down the same path.