Newer versions of libreoffice have been almost unusably buggy for me: constant crashes, and track changes + undo has all kinds of weird quirks and sometimes makes entire paragraphs disappear. I would not recommend it in a business context even if interoperability with Word wasn't an issue.

I hate to sound harsh, particularly when I've been benefiting from their work for years, but it's hard to imagine a workplace that would put up with those bugs.