David,
It all depends on what the other application supports, you can use ActiveX to launch and control the externa application, you can find some example in the CVI help file.
If all you want to do is launch the exe, you can use the LaunchExecutable or LaunchExecutableEx functions, this does not provides many control over the second application, but you can launch anc terminate an executable.
I hope this helps,
Juan Carlos
N.I.