<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q

 [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

                  FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2001

                                       OR

 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

                        COMMISSION FILE NUMBER 000-28430


                             SS&C TECHNOLOGIES, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

          DELAWARE                                       06-1169696
(STATE OR OTHER JURISDICTION OF             (I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION OR ORGANIZATION)

                                80 LAMBERTON ROAD
                                WINDSOR, CT 06095
          (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)

                                  860-298-4500
              (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)

        SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: NONE
           SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
                     COMMON STOCK, $.01 PAR VALUE PER SHARE



Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes [X] No [_]

Number of shares outstanding of the issuer's classes of common stock as of May
10, 2001:


<TABLE>
<CAPTION>
             Class                                  Number of Shares Outstanding
             -----                                  ----------------------------
<S>                                                 <C>
Common Stock, par value $0.01 per share                      15,069,016
</TABLE>
<PAGE>   2
                             SS&C TECHNOLOGIES, INC.

                                      INDEX


<TABLE>
<CAPTION>
                                                                         Page
                                                                        Number
<S>                                                                     <C>
PART I.   FINANCIAL INFORMATION

Item 1.   Financial Statements

          Consolidated Balance Sheets at
          March 31, 2001 and December 31, 2000                            2

          Consolidated Statements of Operations for the three-month
          periods ended March 31, 2001 and 2000                           3

          Consolidated Statements of Cash Flows for the three-month
          periods ended March 31, 2001 and 2000                           4

          Notes to Consolidated Financial Statements                      5

Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations                             7

Item 3.   Quantitative and Qualitative Disclosures About Market Risk     10

PART II.  OTHER INFORMATION

Item 2.   Changes in Securities and Use of Proceeds                      11

Item 6.   Exhibits and Reports on Form 8-K                               11

          SIGNATURE                                                      12
</TABLE>


This Quarterly Report on Form 10-Q may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. For this
purpose, any statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. Without limiting the
foregoing, the words "believes," "anticipates," "plans," "expects" and similar
expressions are intended to identify forward-looking statements. The important
factors discussed below under the caption "Certain Factors That May Affect
Future Operating Results," among others, could cause actual results to differ
materially from those indicated by forward-looking statements made herein and
presented elsewhere by management from time to time.


                                       1
<PAGE>   3
                          PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


                             SS&C TECHNOLOGIES, INC.
                                AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                 (in thousands)


<TABLE>
<CAPTION>
                                                                      March 31,
                                                                         2001        December 31,
                                                                     (unaudited)         2000
                                                                     -----------     ------------
<S>                                                                  <C>             <C>
ASSETS
Current assets
     Cash and cash equivalents                                         $ 25,656        $ 20,690
     Investments in marketable securities                                31,817          35,840
     Accounts receivable, net of allowance for doubtful accounts         10,152          10,509
     Income taxes receivable                                                337             144
     Prepaid expenses and other current assets                            1,861           1,955
     Deferred income taxes                                                3,315           3,391
                                                                     -----------     ------------
Total current assets                                                     73,138          72,529
                                                                     -----------     ------------
Property and equipment:
     Leasehold improvements                                               3,093           2,983
     Equipment, furniture, and fixtures                                  16,667          16,338
                                                                     -----------     ------------
                                                                         19,760          19,321
     Less accumulated depreciation                                      (11,213)        (10,429)
                                                                     -----------     ------------
     Net property and equipment                                           8,547           8,892
                                                                     -----------     ------------

Deferred income taxes                                                     6,924           7,179
Goodwill, net of accumulated amortization                                   113             129
Intangible and other assets, net of accumulated amortization              2,157           2,129
                                                                     -----------     ------------
Total assets                                                           $ 90,879        $ 90,858
                                                                     ===========     ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
     Current portion of long-term debt                                 $      6        $     94
     Accounts payable                                                     1,345           1,121
     Accrued employee compensation and benefits                           1,574           1,071
     Other accrued expenses                                               1,445           3,492
     Deferred maintenance and other revenue                              15,240          12,421
                                                                     -----------     ------------
Total current liabilities                                                19,610          18,199

Long-term debt                                                                3               5
                                                                     -----------     ------------
Total liabilities                                                        19,613          18,204
                                                                     -----------     ------------

Stockholders' equity:
     Common stock                                                           162             162
     Treasury stock                                                      (6,204)         (5,700)
     Additional paid in capital                                          88,812          88,852
     Accumulated other comprehensive income                               1,004           2,434
     Accumulated deficit                                                (12,508)        (13,094)
                                                                     -----------     ------------
Total stockholders' equity                                               71,266          72,654
                                                                     -----------     ------------
Total liabilities and stockholders' equity                             $ 90,879        $ 90,858
                                                                     ===========     ============
</TABLE>


See accompanying Notes to Consolidated Financial Statements.


                                        2
<PAGE>   4
                             SS&C TECHNOLOGIES, INC.
                                AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                      (in thousands, except per share data)
                                   (unaudited)

<TABLE>
<CAPTION>
                                                        Three months ended
                                                     March 31,       March 31,
                                                       2001            2000
                                                     --------        --------
<S>                                                  <C>             <C>
Revenues:
  Software licenses                                  $  3,212        $  4,138
  Maintenance                                           6,413           6,572
  Professional services                                 1,786           3,410
  Outsourcing                                           1,418           1,000
                                                     --------        --------
     Total revenues                                    12,829          15,120
                                                     --------        --------
Cost of revenues:
  Software licenses                                       180             238
  Maintenance                                           1,815           1,640
  Professional services                                 1,858           2,826
  Outsourcing                                           1,432           1,461
                                                     --------        --------
     Total cost of revenues                             5,285           6,165
                                                     --------        --------
Gross profit                                            7,544           8,955
                                                     --------        --------
Operating expenses:
  Selling and marketing                                 2,881           3,543
  Research and development                              3,173           4,081
  General and administrative                            2,529           2,621
                                                     --------        --------
     Total operating expenses                           8,583          10,245
                                                     --------        --------
Operating loss                                         (1,039)         (1,290)
                                                     --------        --------

Interest income, net                                      721             614
Other income, net                                       1,234             693
                                                     --------        --------

Income before income taxes                                916              17
Provision for income taxes                                330               6
                                                     --------        --------
Net income                                           $    586        $     11
                                                     ========        ========

Basic earnings per share                             $   0.04        $   0.00
                                                     ========        ========

Basic weighted average number of common
shares outstanding                                     15,105          16,044
                                                     ========        ========

Diluted earnings per share                           $   0.04        $   0.00
                                                     ========        ========

Diluted weighted average number of  common and
common equivalent shares outstanding                   15,166          16,113
                                                     ========        ========
</TABLE>


See accompanying Notes to Consolidated Financial Statements.


                                       3
<PAGE>   5
                             SS&C TECHNOLOGIES, INC.
                                AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (in thousands)
                                   (unaudited)

<TABLE>
<CAPTION>
                                                                         Three months ended
                                                                      March 31,       March 31,
                                                                        2001            2000
                                                                      ---------       ---------
<S>                                                                   <C>             <C>
Cash flow from operating activities:
        Net income                                                    $    586        $     11
                                                                      ---------       ---------
Adjustments to reconcile net income  to net cash provided by
operating activities:
         Depreciation and amortization                                     880           1,105
         Gain on sales of equity investments                            (1,219)           (482)
         Gain on sale of property and equipment                             (3)             --
         Deferred income taxes                                             331               6
         Provision for doubtful accounts                                   332             317
         Changes in operating assets and liabilities, excluding
         effects from acquisitions:
               Accounts receivable                                        (183)         (1,763)
               Prepaid expenses and other current assets                    54            (348)
               Taxes receivable                                           (193)            245
               Accounts payable                                            224            (157)
               Accrued expenses                                         (1,544)           (986)
               Deferred maintenance and other revenues                   2,819           2,999
                                                                      ---------       ---------
                       Total adjustments                                 1,498             936
                                                                      ---------       ---------
        Net cash provided by operating activities                        2,084             947
                                                                      ---------       ---------

Cash flow from investing activities:
        Additions to property and equipment                               (479)           (613)
        Proceeds from sale of property and equipment                        16               7
        Issuance of convertible note receivable                             --          (1,000)
        Additions to capitalized software and other intangibles            (81)            (93)
        Purchases of marketable securities                             (12,807)         (7,150)
        Sales of marketable securities                                  16,827           3,982
                                                                      ---------       ---------
        Net cash provided by (used in) investing activities              3,476          (4,867)
                                                                      ---------       ---------

Cash flow from financing activities:
        Repayment of debt                                                  (90)             (1)
        Purchase of common stock for treasury                             (504)             --
                                                                      ---------       ---------
        Net cash used in financing activities                             (594)             (1)
                                                                      ---------       ---------

Net (decrease) increase in cash and cash equivalents                     4,966          (3,921)
Cash and cash equivalents, beginning of period                          20,690          14,304
                                                                      ---------       ---------
Cash and cash equivalents, end of period                              $ 25,656        $ 10,383
                                                                      =========       =========
</TABLE>

See accompanying Notes to Consolidated Financial Statements.


                                       4
<PAGE>   6
                    SS&C TECHNOLOGIES, INC. AND SUBSIDIARIES
                   Notes to Consolidated Financial Statements
                                   (unaudited)


1. Basis of Presentation

In the opinion of the Company, the accompanying unaudited consolidated financial
statements contain all adjustments (consisting of only normal recurring
adjustments, except as noted elsewhere in the notes to the consolidated
financial statements) necessary to present fairly its financial position as of
March 31, 2001 and the results of its operations for the three months ended
March 31, 2001 and 2000. These statements do not include all of the information
and footnotes required by generally accepted accounting principles for annual
financial statements. The financial statements contained herein should be read
in conjunction with the consolidated financial statements and footnotes as of
and for the year ended December 31, 2000 which were included in the Company's
Annual Report on Form 10-K filed with the Securities and Exchange Commission.
The December 31, 2000 consolidated balance sheet data were derived from audited
financial statements, but do not include all disclosures required by generally
accepted accounting principles. The results of operations for the three months
ended March 31, 2001 are not necessarily indicative of the expected results for
the full year.


2. Basic and Diluted Earnings Per Share

Earnings per share is calculated in accordance with Statement of Financial
Accounting Standards No. 128, "Earnings Per Share". Basic earnings per share
includes no dilution and is computed by dividing income available to the
Company's common stockholders by the weighted average number of common shares
outstanding for the period. Diluted earnings per share is computed by dividing
net income by the weighted average number of common and common equivalent shares
outstanding during the period. Common equivalent shares are comprised of stock
options using the treasury stock method. Common equivalent shares are excluded
from the computations of earnings per share if the effect of including such
common equivalent shares is antidilutive. Outstanding options to purchase 2.7
million and 2.3 million shares at March 31, 2001 and 2000, respectively, were
not included in the computation of diluted earnings per share because the effect
of including the options would be antidilutive. Income available to stockholders
is the same for basic and diluted earnings per share. A reconciliation of the
shares outstanding is as follows (in thousands):


<TABLE>
<CAPTION>
                                                           March 31,   March 31,
                                                             2001        2000
                                                           ---------   ---------
<S>                                                        <C>         <C>
Basic weighted average shares outstanding                   15,105      16,044
Weighted average common stock equivalents -- options            61          69
                                                           ---------   ---------
Diluted weighted average shares outstanding                 15,166      16,113
                                                           =========   =========
</TABLE>

3. Comprehensive Income

Statement of Financial Accounting Standards No. 130, "Reporting Comprehensive
Income" ("SFAS No. 130") requires that items defined as comprehensive income,
such as foreign currency translation adjustments and unrealized gains (losses)
on marketable securities, be separately classified in the financial statements
and that the accumulated balance of other comprehensive income be reported
separately from retained earnings and additional paid-in capital in the equity
section of the balance sheet.

The following table sets forth the components of comprehensive income (loss) (in
thousands):

<TABLE>
<CAPTION>
                                                     Three months ended
                                            ------------------------------------
                                            March 31, 2001        March 31, 2000
                                            --------------        --------------
<S>                                         <C>                   <C>
Net income                                    $   586               $    11
Foreign currency translation losses              (209)                  (90)
Unrealized gains (losses) on
  marketable securities                        (1,221)                3,310
                                              --------              --------
Total comprehensive income (loss)             $  (844)              $ 3,231
                                              ========              ========
</TABLE>


                                       5
<PAGE>   7
4. Stock Repurchase Program

On May 23, 2000, the Company's Board of Directors approved a plan, which
provided for to repurchase of its Common Stock for a total expenditure of up to
$20 million. During the three months ended March 31, 2001, 93,100 shares of
Common Stock were repurchased for approximately $0.5 million. To date, under the
repurchase plan, the Company has purchased a total of 1,154,219 shares of Common
Stock for a total of approximately $6.2 million.

5. Reclassifications

Certain amounts in the Company's 2000 consolidated financial statements have
been reclassified to be comparable with the 2001 presentation. These
classifications have had no effect on net income, working capital or net equity.

6. Commitments and Contingencies

From time to time, the Company is subject to legal proceedings and claims that
arise in the normal course of its business. In the opinion of management, the
Company is not a party to any litigation that it believes could have a material
effect on the Company or its business.

7. International Sales and Geography Information

The Company manages its business primarily on a geographic basis. The Company
attributes net sales to a particular country based upon location of the
customer. The Company's geographic segments consist of the Americas and Europe.
The Americas segment includes both North and South America. The European segment
includes European countries as well as the Middle East and Africa. Other
operating segments include Asia Pacific and Japan.

Revenues by geography for the three months ended March 31, were (in thousands):

<TABLE>
<CAPTION>
                                                              (Unaudited)
                                                           2001         2000
                                                         --------      --------
<S>                                                      <C>           <C>
Americas                                                $ 10,363       $ 12,139
Europe                                                     1,700          2,298
Other                                                        766            683
                                                         --------      --------
                                                         $ 12,829      $ 15,120
                                                         ========      ========
</TABLE>


                                        6
<PAGE>   8
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

RESULTS OF OPERATIONS

Revenues

The Company's revenues are derived from software licenses, related maintenance
and professional services and outsourcing services provided by SS&C Direct.
Revenues for the three months ended March 31, 2001 were $12.8 million,
representing a decrease of 15% from the $15.1 million in the respective period
in 2000. The decrease of $2.3 million was primarily due to a decrease in
software licenses and professional services offset by an increase in outsourcing
revenue.

Software Licenses. Software license revenues for the three months ended March
31, 2001 was $3.2 million, representing a decrease of 22% from the $4.1 million
in the comparable period of the prior year. The decrease of $0.9 million in
license revenue was primarily attributable to lower sales of Total Return 2000,
AdvisorWare 2000 and Mabel, offset by increases in sales of CAMRA 2000 and PTS
2000.

Maintenance. Maintenance revenues for the three months ended March 31, 2001 were
$6.4 million, representing a decrease of 2% from the $6.6 million in the
comparable period of the prior year. The decrease was mainly attributable to
lower SKYLINE and CAMRA 2000 maintenance renewals.

Professional Services. Professional services revenues for the three months ended
March 31, 2001 were $1.8 million, representing a decrease of 48% from the $3.4
million in the comparable period of the prior year. Demand for the Company's
implementation, conversion and training services has decreased primarily due to
the decrease in sales of the Company's software license. The professional
services revenues will continue to be affected by the overall license revenue
levels.

Outsourcing. Outsourcing revenues for the three months ended March 31, 2001 were
$1.4 million, representing an increase of 42% from the $1.0 million in the
comparable period of the prior year. The increases is primarily due to increased
demand by customers for outsourcing services as an alternative to license
purchases.


Cost of Revenues

Total cost of revenues decreased by 14% from $6.2 million in the three months
ended March 31, 2000 to $5.3 million in the three months ended March 31, 2001.
Total gross margins were 59% for the three months ended March 31, 2001, which
was unchanged from the comparable period of the prior year.

Cost of Software Licenses. Cost of software license revenues relates primarily
to royalties, the costs of product media, packaging, documentation and labor
involved in the distribution of the Company's software and the amortization of
completed technology. The cost of software licenses decreased 24% from $238
thousand in the three months ended March 31, 2000 to $180 thousand in the three
months ended March 31, 2001. The decrease in costs was mainly due to the
reduction of amortization of completed technology. The amortization, which was
related to the 1998 Savid International acquisition, was completed in the second
quarter of 2000. The cost of software license revenues as a percentage of such
revenues remained the same at 6% for the three months ended March 31, 2001 and
2000.

Cost of Maintenance. Cost of maintenance primarily consists of technical
customer support and the engineering costs associated with product and
regulatory updates. The cost of maintenance increased 11% from $1.6 million in
the three months ended March 31, 2000 to $1.8 million in the three months ended
March 31, 2001. The increase was primarily due to increased personnel required
to support the installed client base. The cost of maintenance as a percentage of
such revenues increased from 25% in the three months ended March 31, 2000 to 28%
in the same period of 2001.

Cost of Professional Services. Cost of professional services revenues consists
primarily of the cost related to personnel utilized to provide implementation,
conversion and training services to the Company's software licensees, as well as
custom programming, system integration and actuarial consulting services. The
cost of professional services revenues decreased 34% from $2.8 million in the
three months ended March 31, 2000 to $1.9 million in the three months ended
March 31, 2001. The cost of professional services revenues as a percentage of
such revenues increased from 83% in the three months ended March 31, 2000 to
104% in the three months ended March 31, 2001. The Company has significantly
reduced its professional consulting organization due to the decrease in demand
for the Company's implementation services, which was a result of the


                                       7
<PAGE>   9
lower license revenues as compared to prior periods. The increase in the cost of
professional services as a percentage of professional services revenues was due
to lower overall efficiencies as a result of lower revenues.

Cost of Outsourcing. Cost of outsourcing revenues consists primarily of the cost
related to personnel utilized in servicing the Company's outsourcing clients.
The cost of outsourcing revenues decreased 2% from $1.5 million in the three
months ended March 31, 2000 to $1.4 million in the three months ended March 31,
2001, representing 146% and 101% of outsourcing revenue in those periods,
respectively. The decrease in costs of outsourcing as a percentage of
outsourcing revenues was due primarily to improved operating efficiencies.

Operating Expenses

Total operating costs decreased 16% from $10.2 million in the three months ended
March 31, 2000 to $8.6 million in the three months ended March 31, 2001,
representing 68% and 67% of total revenues in those periods, respectively. The
decrease in total operating costs was due primarily to the cost reduction steps
that the Company has undertaken to align its operating expenses with revenues.

Selling and Marketing. Selling and marketing expenses consist primarily of the
cost of personnel associated with the selling and marketing of the Company's
products, including salaries, commissions, and travel and entertainment. Such
expenses also include the cost of branch sales offices, advertising, trade
shows, marketing and promotional materials. These expenses decreased 19% from
$3.5 million in the three months ended March 31, 2000 to $2.9 million in the
three months ended March 31, 2001, representing 23% of total revenues for both
periods. The dollar decrease was largely attributable to lower personnel related
costs due to a reduction of personnel.

Research and Development. Research and development expenses consist primarily of
personnel costs attributable to the development of new software products and the
enhancement of existing products. Research and development expenses decreased
22% from $4.1 million in the three months ended March 31, 2000 to $3.2 million
in the three months ended March 31, 2001, representing 27% and 25%,
respectively, of those revenues for those periods. The dollar decrease was
mainly due to lower personnel-related costs associated with the reduction in the
number of research and development personnel and the elimination of redundant
costs.

General and Administrative. General and administrative expenses are primarily
composed of personnel costs related to management, accounting, information
technology, human resources and administration and associated overhead costs, as
well as fees for professional services. General and administrative expenses
decreased 4% from $2.6 million in the three months ended March 31, 2000 to $2.5
million in the three months ended March 31, 2001, representing 17% and 20%,
respectively, of total revenues for those periods. The dollar decrease was
largely attributable to lower personnel costs due to a reduction in
administration personnel.

Interest and Other Income, Net. Interest and other income, net consists
primarily of interest income and other non-operational income and expenses.
Interest income, net was $721 thousand for the three months ended March 31, 2001
compared to $614 thousand in the same period of 2000. Included in other income,
net for the periods ended March 31, 2001 and March 31, 2000 were non-operational
gains of $1.2 million and $482 thousand, respectively, resulting from the sale
of an equity investment.

Provision for Income Taxes. The Company had an effective tax rate of 33% and 36%
in the periods ending March 31, 2000 and 2001, respectively. The increase in the
effective tax rate was primarily due to lower research and development tax
credits and the impact of the shift in marketable securities investments from
non-taxable to taxable securities.


LIQUIDITY AND CAPITAL RESOURCES

The Company's cash, cash equivalents and marketable securities at March 31, 2001
were $57.5 million, increasing $1.0 million from the $56.5 million at December
31, 2000. Included in marketable securities at March 31, 2001 was an equity
investment valued at $2.1 million that is subject to considerable market risk
due to its volatility.

Net cash provided by operating activities was $2.1 million for the three months
ended March 31, 2001. Cash provided by operating activities was primarily due to
earnings adjusted for non-cash items and an increase in deferred maintenance and
other revenues.

Investing activities provided cash of $3.5 million for the three months ended
March 31, 2001. This was primarily due to the net


                                       8
<PAGE>   10
proceeds from the sale of marketable securities of $4.0 million, offset by
capital expenditures of $0.5 million.

Financing activities used net cash of $0.6 million. This was primarily due to
the Company's stock repurchase plan. The Company purchased 93,100 shares of
Common Stock for treasury in the three-month period ended March 31, 2001 for a
total cost of $0.5 million.

The Company believes that its current cash balances and net cash provided by
operating activities will be sufficient to meet its working capital and capital
expenditure requirements for at least the next twelve months.


CERTAIN FACTORS THAT MAY AFFECT FUTURE OPERATING RESULTS

Fluctuations in Quarterly Performance. Historically, the Company's revenues and
operating results have varied substantially from quarter to quarter. The
Company's quarterly operating results may continue to fluctuate due to a number
of factors, including the timing, size and nature of the Company's individual
license transactions; the timing of the introduction and the market acceptance
of new products or product enhancements by the Company or its competitors; the
relative proportions of revenues derived from license fees, maintenance,
consulting, and other recurring revenues and professional services; changes in
the Company's operating expenses; personnel changes; and fluctuations in
economic and financial market conditions. The timing, size, and nature of
individual license transactions are important factors in the Company's quarterly
operating results. Many such license transactions involve large dollar amounts,
and the sales cycles for these transactions are often lengthy and unpredictable.
There can be no assurance that the Company will be successful in closing large
license transactions on a timely basis or at all.

Dependence on the Financial Services Industry. The Company's clients include a
range of organizations in the financial services industry. The success of these
clients is intrinsically linked to the health of the financial markets. In
addition, because of the capital expenditures required in connection with an
investment in the Company's products, the Company believes that demand for its
products could be disproportionately affected by fluctuations, disruptions,
instability, or downturns in the financial markets, which may cause clients and
potential clients to exit the industry or delay, cancel, or reduce any planned
expenditures for investment management systems and software products. Any
resulting decline in demand for the Company's products could have a material
adverse effect on the Company's business, financial condition, and results of
operations.

Business Model Change. The Company is in the process of modifying its business
model from one based on license fees derived from licensing proprietary software
to one based on both licensing its software and transaction fees for the use of
SS&C Direct outsourcing services. Due to this change in the business model, the
Company's revenues will increasingly depend on its ability to attract customers
to SS&C Direct and on its ability to grow the number and volume of users of the
Company's outsourcing services. The number of users and the volume of their
activity are largely outside of the Company's control. Thus, the Company's past
operating results may not be a meaningful indicator of its future performance.

Product Concentration. To date, substantially all of the Company's revenues have
been attributable to the licensing of CAMRA 2000, AdvisorWare 2000, Total Return
2000, LMS 2000, and SKYLINE software and the provision of maintenance and
consulting services in support of such software. The Company expects that the
licensing of CAMRA 2000, AdvisorWare 2000, Total Return 2000, LMS 2000, SKYLINE,
and Antares 2000 software products will continue to account for a significant
portion of its revenues for the foreseeable future. As a result, factors
adversely affecting the pricing of or demand for such products and services,
such as competition or technological change, could have a material adverse
effect on the Company's business, financial condition and results of operations.


Competition. The market for financial service software is competitive, rapidly
evolving and highly sensitive to new product introductions and marketing efforts
by industry participants. Although the Company believes that none of its
competitors currently competes against the Company in all of the markets served
by the Company, there can be no assurance that its competitors will not compete
against the Company in the future in additional markets. In addition, many of
the Company's current and potential future competitors have significantly
greater financial, technical and marketing resources, generate higher revenues
and have greater name recognition than the Company.

Rapid Technological Change. The market for the Company's products and services
is characterized by rapidly changing technology, evolving industry standards and
new product introductions. The Company's future success will depend in part upon
its ability to enhance its existing products and services and to develop and
introduce new products and services to meet changing client needs. The process
of developing software products such as those offered by the Company is
extremely


                                       9
<PAGE>   11
complex and is expected to become increasingly complex and expensive in the
future due to the introduction of new platforms and technologies. There can be
no assurance that the Company will successfully complete the development of new
products in a timely fashion or that the Company's current or future products
will satisfy the needs of the financial markets.

Dependence on Database Supplier. The relational database design used in one of
the Company's software products incorporates PFXplus, a "C"-based database
management system licensed to the Company by POWERflex Corporation Proprietary
Limited, an Australian vendor ("Powerflex"). If Powerflex were to increase its
fees under the license agreement, the Company's results of operations could be
materially adversely affected. Moreover, if Powerflex were to terminate the
license agreement, the Company would have to seek an alternative relational
database for its software products. Even though the Company believes that it
could migrate its products to an alternative database, there can be no assurance
that the Company would be able to license a database in a timely fashion with
similar features and on terms acceptable to the Company.

Dependence on Proprietary Technology. The Company's success and ability to
compete is dependent in part upon its ability to protect its proprietary
technology. The Company relies on a combination of trade secret, copyright, and
trademark law, nondisclosure agreements and technical measures to protect its
proprietary technology. There can be no assurance that the steps taken by the
Company to protect its proprietary technology will be adequate to prevent
misappropriation or independent third-party development of such technology.

Product Defects and Product Liability. The Company's software products are
highly complex and sophisticated and could, from time to time, contain design
defects or software errors that are difficult to detect and correct. Errors,
bugs or viruses may result in loss of or delay in market acceptance of the
Company's software products or loss of client data. Although the Company has not
experienced material adverse effects resulting from any software defects or
errors, there can be no assurance that, despite testing by the Company and its
clients, errors will not be found in new products, which errors could result in
a delay in or an inability to achieve market acceptance and thus could have a
material adverse effect upon the Company's business, financial condition, and
results of operations.

Key Personnel. The Company's success is dependent in part upon its ability to
attract, train and retain highly skilled technical, managerial and sales
personnel. The loss of services of one or more of the Company's key employees
could have a material adverse effect on the Company's business, financial
condition and results of operations. Competition for the hiring of such
personnel in the software industry is intense. Locating candidates with the
appropriate qualifications, particularly in the desired geographic location, is
difficult. Although the Company expects to continue to attract and retain
sufficient numbers of highly skilled employees for the foreseeable future, there
can be no assurance that the Company will be able to do so.

Risks Associated with International Operations. The Company has risks associated
with its foreign operations. An increase in the value of the U.S. dollar
relative to foreign currencies could make the Company's products more expensive
and, therefore, potentially less competitive in those foreign markets. A portion
of the Company's international sales is denominated in foreign currency, and the
Company occasionally hedges some of the risk associated with foreign exchange
fluctuations. Although the Company believes its foreign currency exchange rate
risk is minimal, significant fluctuations in the value of foreign currencies
could have a material adverse effect on the earnings of the Company. In
addition, the Company's international business may be subject to a variety of
other risks, including difficulties in obtaining U.S. export licenses,
potentially longer payment cycles, increased costs associated with maintaining
international marketing efforts, the introduction of non-tariff barriers and
higher duty rates and difficulties in enforcement of third-party contractual
obligations and intellectual property rights. There can be no assurance that
such factors will not have a material adverse effect on the Company's business,
financial condition or results of operations.

Because of these and other factors, past financial performance should not be
considered an indication of future performance. The Company's quarterly
operating results may vary significantly, depending on factors such as the
timing, size, and nature of licensing transactions and new product introductions
by the Company or its competitors. Investors should not use historical trends to
anticipate future results and should be aware that the trading price of the
Company's common stock may be subject to wide fluctuations in response to
quarterly variations in operating results and other factors, including those
discussed above.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company has no derivative financial instruments. The Company generally
places its marketable security investments in high credit quality instruments,
primarily U.S. Government and Federal Agency obligations, tax-exempt municipal
obligations and corporate obligations. The Company does not expect any material
loss from its marketable security investments and therefore believes that its
potential interest rate exposure is not material.


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<PAGE>   12
The Company invoices customers primarily in U.S. dollars and in local currency
in those countries in which the Company has branch and subsidiary operations.
The Company is exposed to foreign exchange rate fluctuations from when customers
are invoiced in local currency until collection occurs. Through March 31, 2001,
foreign currency fluctuations have not had a material impact on the Company's
financial position or results of operation, and therefore the Company believes
that its potential foreign currency exchange rate exposure is not material.

The foregoing risk management discussion and the effect thereof are
forward-looking statements. Actual results in the future may differ materially
from these projected results due to actual developments in global financial
markets. The analytical methods used by the Company to assess and mitigate risk
discussed above should not be considered projections of future events or losses.


PART II - OTHER INFORMATION

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

The following information relates to the use of the $52.8 million of net
proceeds from the Company's initial public offering of Common Stock (the
"Offering").

The effective date of the Company's Registration Statement on Form S-1 File No.
333-3094 (the "Registration Statement") relating to the Offering, for which the
following use of proceeds information is being disclosed, was May 30, 1996.

From the effective date of the Registration Statement through March 31, 2001,
the Company has used the net offering proceeds to the Company as follows (in
thousands):

<TABLE>
<S>                                                               <C>
             Corporate move and equipment purchases               $ 15,497
             Acquisition of other business                           5,333
             Repayment of indebtedness                               3,627
             Purchase of common stock for treasury                   6,204
             Marketable securities                                  22,139
                                                                  --------
                 Total                                            $ 52,800
                                                                  ========
</TABLE>

All of the above listed payments were direct or indirect payments to persons
other than directors, officers, general partners of the Company or their
associates; persons owning ten percent or more of any class of equity securities
of the Company, or affiliates of the Company.


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

a. No exhibits are being filed as part of this Report.

b. There were no reports filed on Form 8-K in the quarter ended March 31, 2001.


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SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                  SS&C TECHNOLOGIES, INC.


Date: May 14, 2001                By:/s/ Anthony R. Guarascio

                                  Anthony R. Guarascio
                                  Senior Vice President and Chief
                                  Financial Officer
                                  (Principal Financial and Accounting Officer)


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