A Hyperlink creates a shortcut from one location to another file whether it is in Excel, Word, PowerPoint and webpages or within the same file. After linked you can naviate to destination file or location by ctrl + Click. Word ‘2013 has a Hyperlink button on the Insert ribbon in the Links group that you can click to create the link.
Bookmarks used in hyperlink and it gives a name of the particular place or objects which are not formatted by any other predefined formatting like heading styles etc.
To create a bookmark:
Note:A bookmark name cannot contain space, must not begin with a number, but can have up to a maximum of forty characters.
The cross-referencing feature in word refer to the particular place like heading, figures and table in a document.
The advantage of using cross-referencing is that it is a hyperlink but labels automatically created. To insert a cross-reference to a heading:
Updating Cross-References
Cross-references may need to be updated if the text they are relating to is moved on to a different page or if the text altered.
If you want to update all the cross-references in the document, first select the document and then press F9. Any other fields in the document will also be updated.
Deleting A Cross Reference
If the field was not selected in its entirety then you may need to press the delete key twice.