Hi LN and welcome,
When you mention "word" files are you referring to text files and reports or Microsoft Word documents?
If you are referring to text files and reports then the answer is a "yes", thought the benefits ar greatest is you have a structured sort of document that you want to arrange in a certain way within Excel. (It does not have to go into Excel of course but you did mention that as a requirement.)
If you are talking about a MS Word document then the answer is probably also yes but it would not be directly from a .DOC file as produced by MS Word. You may need to save it as a text file or perhaps an Adobe PDF file first.
I hope this helps.