TFVC is a centralized version control system. While it works well for small teams with small code bases, TFVC is capable of scaling to support very large codebases (millions of files per branch with server workspaces) and it handles large binary files well. TFVC provides granular permission control, allowing teams to restrict access down to a file level if needed. Since all contributions are checked in to the central server, it is very easy to audit changes and identify exactly which user has committed a given code change.