We structure the project and its related projects hierarchically along service design packages, similar to the “class-responsibility-collaboration” breakdown in object-oriented design.
All of our stream-aligned team collaborates continuously on this data as part of sprints, including analysts, managers, software and QA engineers. We recently started to collaborate with the enabling Risk & Compliance team on the same data, and started doing compliance audits using the generated, Git hash-versioned reports.
Our other teams use similar combinations of data, mostly centered around Confluence spaces which enable some form of traceability due to bi-directional linking.