Our team uses version control to maximise collaboration while minimising regression and loss of work. There are many flavours of version control and many methodologies on how to use them. There are many good options that will work for you. In the end, it comes down to your team workflow.
Sitback has both LAMP stack and .NET team. In the LAMP stack world, our preferred CMSes are Drupal and WordPress, and in the .NET world it is Umbraco. To work with those CMSes we use Git, a distributed version control system, to work as a team whether in or out of the office. Git has a steep learning curve but offers the functionality, security, performance and flexibility that our teams need. It is the de-facto standard being the most broadly adopted tool of its kind. We find many of the new developers already have Git experience and do not need to be trained on Git.
At Sitback we use a slightly modified version of the Gitflow methodology to coordinate features, releases and deployments. It appears that most teams have their own methodology. We have developed ours while working on a variety of projects and have standardised it. Having teams manage version control has helped with communication and cross-team collaboration.