Copying data from a table to a seperate table on save/update

Yes, you can use a pipeline but a far better solution is to reconsider your approach.

The best practice here is really to have a status field on the record and then have different reports and different notifications and subscriptions based on that status field. You will likely regret it in the end if you start making Duplicate tables. For example, if you decide to add a field to your form in one table, then you are going to need to add that field into other tables and keep the forms consistent.