I am going to assume that the 40 or 50 people are separated by lots of miles and may not have a common network to provide them access to a database; that it may be impracticle from several standpoints to develop/install a database for the purpose; and/or
the 40 or 50 people, or a good number of them, may be terribly afraid of databases but get along comfortably with Excel.
To answer your basic question: "Is this possible and how?" ... Short answer is YES, and you are well on the way to getting there by deciding to put them all into a single folder/directory with a standard naming format. The naming format isn't really critical,
as long as you don't "step on any toes" and overwrite one person's file with another's.
But we will presume that internally, the workbooks are all the same: same worksheet names used for the same purpose(s), and data entry layout the same on each page.
At this point, it becomes easy to import the data in one of several ways, such as exporting to .txt or .csv files for import into a central workbook or database. But doing so by hand could be a bit tedious and it would be fairly easy to use VBA code (a
macro) to deal with the tedium.
If you want to get with me to discuss this possibility, click my name to view my profile and my email address and instructions for contacting me are there.