You can create application sets in Suitcase Fusion. An application set is tied to an application such as Microsoft Word; when the application is opened, Suitcase Fusion activates the fonts in the set.
In Suitcase Fusion, choose File > New Application Set. Suitcase Fusion will display a dialog asking where to find the application; locate the application you want to create a set for.

Suitcase Fusion creates a set with the name and icon of the application, identifying it as an application set.

Note: If you quit the application, the fonts in the application set are not deactivated. You can deactivate the fonts by clicking the blue indicator next to the application set.