There isn't a single application that I know of which can manage to keep all software on a Windows machine updated. However, FileHippo App Manager in conjunction with SUMo seem to take care of most of the updates.
Both programs require user intervention for installing updates although FileHippo App Manager can at least download the software updates automatically. SUMo seems to be only good at telling you what's outdated rather than fetching the update for you. My antivirus program also seems to think it's adware.
There's also Avast Software Updater but it only checks for and installs updates for certain software programs that may compromise system security if left outdated (e.g. web browsers, Java Runtime, Adobe Flash Player, etc.). However, it has the advantage of performing automatic updates without user intervention.