Large excel files not opening in online excel

[Narwat350]

My company uses coauthoring function of excel in browser. It was working fine until some days ago when it started showing messages that file size has exceeded 100MB. 

Is there any way to correct that or use any other Office 365 app for collaboration purposes with same convenience that coauthoring of online excel provides. 

I know about sharepoint but they make us create a new file everytime we need to enter. 

What we want is to have one common file that can continue to be edited for year long atleast with coauthoring from other departments. 

[#2]

I recommend starting by opening one of the workbooks in the desktop version of Excel and run Inquire's Clean Excess Cell Formatting. It sounds like the workbook is bloated.
https://support.microsoft.com/en-au/office/clean-excess-cell-formatting-on-a-worksheet-e744c248-6925....

[#3]

@Patrick2788 

Thanks for your prompt response but my excel doesnot show Inquire in my Com addins. Could you pls suggest any other method or tell me how can i install these addins in my excel. 

[#4]

size has exceeded 100MB.
You can delete extra formatting manually.
https://www.howtogeek.com/764717/how-to-clear-formatting-in-microsoft-excel/

Alternatively,using database also an option if too many rows in a worksheet.
https://club.excelhome.net/forum.php?mod=viewthread&tid=1520437&mobile=