According to Bloomberg, the Washington-based technology giant Microsoft experienced a higher multiyear gain than analysts had predicted last quarter. This may be because most companies that either subscribe to or use Microsoft's business software are beginning to update or renew software subscriptions.

But, while corporations may be benefiting from software updates, a new survey from videoconferencing software provider Skype shows that roughly 40 percent of consumers from the United States, England and Germany do not regularly update their software when given the opportunity.

In addition, about 25 percent of respondents in each country say that they don't clearly understand why they need to update their software. And, more than half said they needed at least two to five reminders before they installed the software updates. Ultimately, most of the responsibility may lie on the shoulders of the software developers to make sure their customers understand the value of software updates.

"Only by regularly updating, are consumers able to enjoy the benefits of improved voice and video calling quality, longer mobile battery life and bug fixes, in addition to new features that we regularly add across our portfolio," said Linda Summers, director of product marketing at Skype, describing the value of updating her company's software.

In order for smaller software companies to accurately notify their customers of available updates, they may want to use custom database software to store the appropriate customer contact information as well as each individual's product information.

While also tracking when a product update is available, database software can allow customer service representatives to track how many free updates the customer may have left if such a program exists. In addition, if a company is using a loyalty program, this software can track how long an individual has been a customer and what rewards they may qualify for, including free updates.