There is a way to accomplish this task, but the problem will come with tracking changes between files. You could try creating a module (or control) that is similar to files section in Sitefinity back end. You could create directories for the different departments. An user will upload documents to a given directory, someone else will review them and then upload the files again with comments. You can append the date to the title so that everyone will know when the document has been changed and uploaded. You could add a metafield as well, if you use the approach with custom module inheriting from Generic Content. In this field, the users will summarize the changes they made to the document.
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