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Default Shared Excel File Question

We currently use a highly integrated Excel Workbook to track schedule changes
in our company. It has grown quite a bit over the last two years and recently
we have begun sharing the workbook with other departments.

Is there a way to make any changes that immediately visible to the others
that have the workbook open? I know that there is the option under the
Shared/Advanced that allows the workbook to be updated every 5 minutes, but I
was looking for instance updating of EVERYONE's open workbook after a change
has been made.

If this isn't possible, does anyone offer any other suggestions on how this
can be done?
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