Versions of Excel Spreadsheets

Sure, there are some great Excel add-ins that help modelers with efficiency, analysis of data, and navigating around models, but the ability to compare between versions of a model tops the list for me.

Most companies maintain the good practice of comparing large legal documents in Microsoft Word to review what changes have been made between versions (called blacklining). So how do organizations not have the ability to compare versions of Excel spreadsheets?

If you care at all about risk, you must have the functionality to compare versions of spreadsheets.