At many companies that I've worked with, content creators (authors) write in Word, and then content managers/editors copy-paste from Word into a CMS, losing part or all of the formatting in the process.

I once developed a specific transformation engine to convert Word documents to a given schema -- if they respect a set of rules that the transformation engine enforces.

Authors will always want to use Word; what would be interesting would be a generic tool to avoid the copy-and-paste step, but the "genericity" part is very hard...

Short of this, I built a small utility that converts rich text to Markdown: http://markitdown.medusis.com

It can be used to copy-paste from Word (or any rich text) and retains all formatting that core Markdown supports; it runs in the browser, locally (no roundtrip to any server) so no one should be able to see the content you use it for.