Best way to inform users about file updates for items that are updated weekly?

1. How can I be notified when an Excel file is updated?
2. Can Teams notify you when a file is updated?

How can I be notified when an Excel file is updated?

If your file is stored on OneDrive, you will get alerts in the Windows 10 Action Center, or on the Notification Center of iOS or Android, when people start to make changes to your file. To enable this, you need the OneDrive sync app installed and you have to be signed in.

Can Teams notify you when a file is updated?

To test it, open a file you have stored in Teams (make sure it is in the folder being monitored by the flow). Make a change on the document and save it. Shortly, you will see the Teams message notification come through. The notification will be sent each time the file is saved.