Several LAN users entering data on same file

Hi, I am in a tricky situation. I have a shared excel file on my system into which several users need to enter some data. if 2 persons on two different machines simultaneously opens the file, the first person first saves and then the second person saves, the contents of the first person will obviously get overwritten. Is there anyway to avoid this without using any version control tool? Please respond.
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As i know - no
Sharepoint would be a solution and Office 2010 delivers the possibility to block specific areas in a excel file
Excel supports document sharing and will handle more than one person having the file open at the same time.

You haven't said which version of Excel you are using - can you please confirm this to make sure the answer that is provided is correct.
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sukhoi35Author Commented:
Experts, thanks for the responses.

jake,we are using Office 2007
In that case, follow the link that Munnday posted - it has all the answers you need :)
sukhoi35Author Commented:
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