Mark-A-Text

Considering that it allows you to correct mistakes easily, supports templates, can help you make bullets and numbers automatically and enables simple formatting, it does not come as a surprise that Microsoft Word is amongst the most successful word processor.
While efficient, it does lack some functions or features that can help users improve workflow. As the name suggests, Mark-A-Text is an add-in that provides you with a set of extra tools that allow you to highlight words and their variants via colors that make them easier to identify.

Enables you to find words and their variants

Following a quick and straightforward setup, you can access the utility from Word's Add-in toolbar. On a side note, it goes without saying that you need to have the word processing application installed on your computer in order to use the add-in.
The idea behind the tool is to help you search for specific words within large documents in a relatively short time. Depending on the prerequisites of your project, you can highlight the word, the sentence or the entire paragraph it appears. Moreover, you can specify whether you prefer searching for an exact match or if the add-in should highlight its variants as well.

It allows you to highlight and extract text separately

A further noteworthy function of the utility is the extraction, a feature that permits you to copy the selected text into one or more documents. You can have all marked items listed on a separate page and save them without highlight or print them directly.
The add-in also enables you to modify the font color of the selected text and change all occurrences of text with any color you prefer. Among the colors that are you can use for highlighting text in your documents, you can count Dark Yellow, Violet, Bright Green, Pink, Red, Turquoise, Black, Blue and Gray 50.

A handy tool for users managing large records

All in all, if your work entails searching, extracting or highlight specific information from large documents on a daily basis or going through extensive reports, then perhaps Mark-A-Text might be the tool to try out.