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Default HOW TO REPLACE TEXT AUTOMATICALLY

AS THE TITLE SAYS, I WANNA REPLACE SOME LONG WORDS INTO SHORT ONES, LIKE
"COMPANY" TO "CO.", "LIMITED" TO "LTD.". I KNOW I CAN DO THIS ONE BY ONE
MANUALLY. HOWEVER, IS THERE ANYWAY THAT COULD DO THIS AUTOMATICALLY WHENEVER
I UPDATE MY DATA? THANK YOU.
 
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