Is wordpress the right solution for me?

Good day all,

I am looking for a popular web-based CMS system for my company’s new website. I want something where I can set up usernames and passwords for each department so that they can update their own department’s portion of the website with new information as it is available. Press releases, pictures, etc. I don’t want one person (me) stuck with doing all the updates for the life of the website for every department in the company. Is this something that WordPress is capable and efficient at doing?

Thanks for any advice or comments.