Microsoft Word can track changes in a document and it has rudimentary version control. However track changes is often unreliable forcing users to use the document comparison feature for larger or more complex documents.
Simul is an online version control system for Microsoft Word that removes some of those limitations. Documents are stored online and several writers can work on the same document simultaneously. Changes are tracked separately for each user in separate versions of the document and can be merged into the final version.
There are many other features, including commmenting, notifications, and document merging.
Simul has a free account which allows you to work on up to 10 documents. Paid accounts are reasonably priced and start at $20/month per user.
For a review from a happy user, check out writer David Muldawer on the Cool Tools podcast.
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