diff --git a/update_dependencies b/update_dependencies
index 7900462013..ed77677a02 100755
--- a/update_dependencies
+++ b/update_dependencies
@@ -4,6 +4,10 @@ import errno
 import os
 import subprocess
 
+from collections import defaultdict
+
+ITEMS = defaultdict(lambda: {'success': [], 'error': []})
+
 
 class ValidationException(Exception):
     def __init__(self, error_msg, error_no=errno.EFAULT):
@@ -32,31 +36,55 @@ class CatalogItemNotFoundException(NotFoundException):
         super(CatalogItemNotFoundException, self).__init__(f'Failed to find {path!r} catalog item')
 
 
+def report_result():
+    print('[\033[94mINFO\x1B[0m]\tExecution Complete')
+    for index, item in enumerate(ITEMS):
+        index += 1
+        data = ITEMS[item]
+        print(f'\n\n[\033[94mINFO\x1B[0m]\t{index}) {item}')
+        if data['success']:
+            print(
+                f'[\033[92mOK\x1B[0m]\t - Successfully updated dependencies for {", ".join(data["success"])} versions'
+            )
+
+        for i_v, version in enumerate(data['error']):
+            v_name, error = version
+            print(
+                f'[\033[91mFAILED\x1B[0m]\t ({i_v + 1}) Failed to update dependencies for {v_name!r} version: {error}'
+            )
+
+
 def update_train_charts(train_path):
     # We will gather all charts in the train and then for each chart all it's versions will be updated
     if not os.path.exists(train_path):
         raise TrainNotFoundException()
 
+    print(f'[\033[94mINFO\x1B[0m]\tProcessing {train_path!r} train')
     for item in os.listdir(train_path):
         process_catalog_item(os.path.join(train_path, item))
 
+    report_result()
+
 
 def process_catalog_item(item_path):
     if not os.path.exists(item_path):
         raise CatalogItemNotFoundException(item_path)
 
+    item_name = item_path.rsplit('/', 1)[-1]
+    print(f'[\033[94mINFO\x1B[0m]\tProcessing {item_name!r} catalog item')
     for item_version in os.listdir(item_path):
-        update_item_version(os.path.join(item_path, item_version))
+        update_item_version(item_name, item_version, os.path.join(item_path, item_version))
 
 
-def update_item_version(version_path):
+def update_item_version(item_name, version, version_path):
     cp = subprocess.Popen(
         ['helm', 'dependency', 'update', version_path], stdout=subprocess.PIPE, stderr=subprocess.PIPE
     )
     stdout, stderr = cp.communicate()
     if cp.returncode:
-        # TODO: Let's keep a log of success and failure scenarios
-        pass
+        ITEMS[item_name]['error'].append((version, stderr.decode()))
+    else:
+        ITEMS[item_name]['success'].append(version)
 
 
 def main():