Proxies in Premiere Pro (3 ways)

Proxies give you ultimate flexibility – they increase playback and editing speed without forcing you to sacrifice quality, allow you to edit seamlessly on laptops and portable drives, and provide a streamlined, no-relinking-necessary project delivery, whether that includes a handoff to a mixer or colorist, or exporting a full quality output for a client.

Source: 3 Ways to Work with Proxies in Premiere Pro – Frame.io Blog