Microsoft Windows Server Update Services
Microsoft Windows Server Update
Services (WSUS) enables information
technology administrators to deploy
the latest Microsoft product updates
to computers running the Windows
operating system. By using WSUS,
administrators can fully manage the
distribution of updates that are
released through Microsoft Update to
computers in their network.
A WSUS server will download all of the patches you specify, for the products you choose. You then configure your clients to get their updates from the local WSUS server instead of directly from Microsoft. You can group your client machines and approve/disapprove the patches that you want each group to install. The WSUS server will give you lots of reports as to which clients need what patches, etc.
It's pretty easy to setup, if you follow the Microsoft white paper.