Renovate is a tool that provides automated dependency updates. It continuously scans the repository for any outdated versions and creates pull requests with updated dependencies. It is a great addition to an existing continuous integration workflow that runs automated tests since the build status will provide instant confirmation on whether the system supports the new dependency version or not. Many configuration options allow to fine tune settings such as automatic PR merging, frequency of updates, limit on the number of open pull requests, and many others.
Renovate is compatible and easy to set up with GitHub, BitBucket, GitLab, and most other major source code repository hosting platforms. The Community Edition is free of charge, and it comes with out-of-the-box support for a lot of package managers, DevOps tooling, and container images. This is an open-source project that is actively maintained and has a large community.
At Kiwee, we delegate the bulk of the tedious work of updating project dependencies to Renovate. It is a low-cost high-reward way to improve security and decrease overall maintenance costs.