<PAGE>

                       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 SEPTEMBER 30, 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                          (I.R.S. EMPLOYER
   OF INCORPORATION OR ORGANIZATION)                      IDENTIFICATION NO.)


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

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



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 sole class of common stock as of
November 9, 2001:

<TABLE>
<CAPTION>
                 Class                          Number of Shares Outstanding
                 -----                          ----------------------------
<S>                                             <C>
  Common Stock, par value $0.01 per share                14,883,419
</TABLE>
<PAGE>
                             SS&C TECHNOLOGIES, INC.

                                      INDEX


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

Item 1.    Financial Statements

           Consolidated Balance Sheets at
           September 30, 2001 and December 31,
           2000                                                       2

           Consolidated Statements of
           Operations for the  three-months and
           nine-months ended September 30, 2001
           and 2000                                                   3

           Consolidated Statements of Cash
           Flows for the nine-months ended
           September 30, 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                                                       11

PART II.   OTHER INFORMATION


Item 2.    Changes in Securities and Use of
           Proceeds                                                   12

Item 6.    Exhibits and Reports on Form 8-K                           12

           SIGNATURE                                                  13
</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>
                          PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS


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


<TABLE>
<CAPTION>
                                                                    September 30,      December 31,
                                                                        2001               2000
                                                                     (unaudited)
                                                                      --------           --------
<S>                                                                   <C>                <C>
ASSETS
Current assets:
    Cash and cash equivalents                                         $ 24,125           $ 20,690
    Investments in marketable securities                                34,606             35,840
    Accounts receivable, net of allowance for doubtful
       accounts                                                          7,959             10,509
    Income taxes receivable                                               --                  144
    Prepaid expenses and other current assets                            1,679              1,955
    Deferred income taxes                                                2,020              3,391
                                                                      --------           --------
Total current assets                                                    70,389             72,529
                                                                      --------           --------
Property and equipment:
    Leasehold improvements                                               3,191              2,983
    Equipment, furniture, and fixtures                                  17,595             16,338
                                                                      --------           --------
                                                                        20,786             19,321
    Less accumulated depreciation                                      (12,760)           (10,429)
                                                                      --------           --------
    Net property and equipment                                           8,026              8,892
                                                                      --------           --------

Deferred income taxes                                                    7,641              7,179
Goodwill, net of accumulated amortization                                   81                129
Intangible and other assets, net of accumulated amortization             2,063              2,129
                                                                      --------           --------

Total assets                                                          $ 88,200           $ 90,858
                                                                      ========           ========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
    Current portion of long-term debt                                 $      7           $     94
    Accounts payable                                                     1,501              1,121
    Income taxes payable                                                   322               --
    Accrued employee compensation and benefits                           1,805              1,071
    Other accrued expenses                                               1,460              3,497
    Deferred maintenance and other revenue                              11,224             12,421
                                                                      --------           --------
Total current liabilities                                               16,319             18,204
                                                                      --------           --------

Stockholders' equity:
    Common stock                                                           162                162
    Treasury stock                                                      (7,552)            (5,700)
    Additional paid-in capital                                          89,058             88,852
    Accumulated other comprehensive income                                 498              2,434
    Accumulated deficit                                                (10,285)           (13,094)
                                                                      --------           --------
Total stockholders' equity                                              71,881             72,654
                                                                      --------           --------

Total liabilities and stockholders' equity                            $ 88,200           $ 90,858
                                                                      ========           ========
</TABLE>


          See accompanying notes to Consolidated Financial Statements.


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

<TABLE>
<CAPTION>
                                                       Three Months Ended                   Nine Months Ended
                                                  September 30,     September 30,      September 30,      September 30,
                                                     2001               2000              2001              2000
                                                   --------           --------          --------          --------
<S>                                              <C>                <C>               <C>               <C>
Revenues:
   Software licenses                               $  4,508           $  4,507          $ 11,585          $ 12,713
   Maintenance                                        6,727              6,373            19,845            19,544
   Professional services                              1,548              2,740             5,628             9,411
   Outsourcing                                        1,357              1,692             4,190             4,167
                                                   --------           --------          --------          --------
     Total revenues                                  14,140             15,312            41,248            45,835
                                                   --------           --------          --------          --------
Cost of revenues:
   Software licenses                                    180                227               548               722
   Maintenance                                        1,708              1,573             5,323             4,878
   Professional services                              1,481              1,915             4,879             7,005
   Outsourcing                                        1,329              1,721             4,100             4,850
                                                   --------           --------          --------          --------
     Total cost of revenues                           4,698              5,436            14,850            17,455
                                                   --------           --------          --------          --------
Gross profit                                          9,442              9,876            26,398            28,380
                                                   --------           --------          --------          --------
Operating expenses:
  Selling and marketing                               2,827              2,814             8,770             9,277
  Research and development                            2,790              3,380             8,827            11,190
  General and administrative                          2,601              3,593             7,969             9,027
                                                   --------           --------          --------          --------
     Total operating expenses                         8,218              9,787            25,566            29,494
                                                   --------           --------          --------          --------
Operating income (loss)                               1,224                 89               832            (1,114)
                                                   --------           --------          --------          --------

Interest income, net                                    661                815             2,069             2,121
Other income (expense), net                            (171)                41             1,644               811
                                                   --------           --------          --------          --------

Income before income taxes                            1,714                945             4,545             1,818
Provision for income taxes                              687                311             1,735               564
                                                   --------           --------          --------          --------
Net income                                         $  1,027           $    634          $  2,810          $  1,254
                                                   --------           --------          --------          --------

Basic earnings per share                           $   0.07           $   0.04          $   0.19          $   0.08
                                                   ========           ========          ========          ========

Basic weighted average number of common
shares outstanding                                   14,969             15,867            15,040            16,005
                                                   ========           ========          ========          ========

Diluted earnings per share                         $   0.07           $   0.04          $   0.19          $   0.08
                                                   ========           ========          ========          ========

Diluted weighted average number of common
and common equivalent shares outstanding             15,234             15,922            15,168            16,047
                                                   ========           ========          ========          ========
</TABLE>


          See accompanying notes to Consolidated Financial Statements.


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

<TABLE>
<CAPTION>
                                                                           Nine Months Ended
                                                                      September 30,      September 30,
                                                                          2001               2000
                                                                        --------           --------
<S>                                                                   <C>                <C>
Cash flow from operating activities:
       Net income                                                       $  2,810           $  1,254
                                                                        --------           --------
Adjustments to reconcile net income to net cash provided by
operating activities:
        Depreciation and amortization                                      2,693              3,099
        Gain on sales of equity investments                               (1,800)              --
        Deferred income taxes                                                908                555
        Provision for doubtful accounts                                      696              1,442
        Changes in operating assets and liabilities:
             Accounts receivable                                           1,819             (1,468)
             Prepaid expenses and other assets                               298                105
             Taxes receivable                                                147              2,555
             Accounts payable                                                388                 92
             Accrued expenses                                             (1,304)            (1,229)
             Taxes payable                                                   322               --
             Deferred maintenance and other revenues                      (1,152)                30
                                                                        --------           --------
                    Total adjustments                                      3,015              5,181
                                                                        --------           --------
       Net cash provided by operating activities                           5,825              6,435
                                                                        --------           --------

Cash flow from investing activities:
       Additions to property and equipment                                (1,691)            (1,452)
       Proceeds from sale of property and equipment                           62                 10
       Issuance of convertible note receivable                              --               (1,000)
       Additions to capitalized software and other intangibles              (159)              (168)
       Purchases of marketable securities                                (27,192)           (39,808)
       Sales of marketable securities                                     28,366             32,544
                                                                        --------           --------
       Net cash used in investing activities                                (614)            (9,874)
                                                                        --------           --------

Cash flow from financing activities:
       Repayment of debt                                                     (77)                (4)
       Issuance of common stock                                              188                278
       Purchase of common stock for treasury                              (1,852)            (2,253)
       Exercise of options                                                    58                171
                                                                        --------           --------
       Net cash used in financing activities                              (1,683)            (1,808)
                                                                        --------           --------

Effect of exchange rate changes on cash                                      (93)              --
                                                                        --------           --------

Net increase (decrease) in cash and cash equivalents                       3,435             (5,247)
Cash and cash equivalents, beginning of period                            20,690             14,304
                                                                        --------           --------
Cash and cash equivalents, end of period                                $ 24,125           $  9,057
                                                                        ========           ========
</TABLE>


          See accompanying notes to Consolidated Financial Statements.


                                       4
<PAGE>
                    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 September 30, 2001 and the results of its operations for the
three months and nine months ended September 30, 2001 and 2000. These statements
do not include all of the information and footnotes required by United States
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 on March 29, 2001. The
December 31, 2000 consolidated balance sheet data were derived from audited
financial statements, but do not include all disclosures required by United
States generally accepted accounting principles for annual financial statements.
The results of operations for the three months and nine months ended September
30, 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 for 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 1.5
million and 2.9 million shares at September 30, 2001 and 2000, respectively,
were not included in the computation of diluted earnings per share for the
respective periods because the effect of including such 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>
                                                                           (unaudited)
                                                        Three Months Ended             Nine Months Ended
                                                   -----------------------------  -----------------------------
                                                   September 30,   September 30,  September 30,   September 30,
                                                       2001            2000            2001            2000
                                                      ------          ------          ------          ------
<S>                                                <C>             <C>             <C>             <C>
Basic weighted average shares outstanding             14,969          15,867          15,040          16,005
Weighted average common stock equivalents --
options                                                  265              55             128              42
                                                      ------          ------          ------          ------
Diluted weighted average shares outstanding           15,234          15,922          15,168          16,047
                                                      ======          ======          ======          ======
</TABLE>

3.    Comprehensive Income

      Statement of Financial Accounting Standards No. 130, "Reporting
Comprehensive Income" 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.


                                       5
<PAGE>
The following table sets forth the components of comprehensive income (in
thousands):


<TABLE>
<CAPTION>
                                                                      (unaudited)
                                             -----------------------------------------------------------------
                                                  Three Months Ended               Nine Months Ended
                                             -------------------------------    ------------------------------
                                             September 30,     September 30,    September 30,    September 30,
                                                 2001              2000              2001              2000
                                             -------------     -------------    -------------    -------------
<S>                                          <C>               <C>               <C>               <C>
Net income                                     $ 1,027           $   634           $ 2,810           $ 1,254
Foreign currency translation (losses)
gains                                              187              (167)              (77)             (315)
Unrealized gains (losses) on
marketable securities                             (615)            3,904            (1,859)            8,379
                                               -------           -------           -------           -------
Total comprehensive income                     $   599           $ 4,371           $   874           $ 9,318
                                               =======           =======           =======           =======
</TABLE>


4.    Stock Repurchase Program

      On May 24, 2001, the Company's Board of Directors authorized the
expenditure of up to $20 million for the repurchase of its common stock through
May 24, 2002. The stock repurchase is in addition to a repurchase program begun
on May 23, 2000 and completed on May 23, 2001, pursuant to which the Company
repurchased 1,203,219 shares of common stock for approximately $6.5 million.
During the three months ended September 30, 2001, 159,000 shares of common stock
were repurchased for approximately $1.1 million. As of September 30, 2001, under
the repurchase programs, the Company had repurchased a total of 1,369,719 shares
of Common Stock for approximately $7.6 million.


5.    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 other litigation that it believes could have a
material effect on the Company or its business.


6.    International Sales and Geography Information

      The Company manages its business primarily on a geographic basis. The
Company's reportable segments are comprised 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 were (in thousands):

<TABLE>
<CAPTION>
                       (unaudited)                      (unaudited)
                    Three Months Ended                Nine Months Ended
                ------------------------------   ------------------------------
                September 30,    September 30,   September 30,     September 30,
                    2001             2000             2001             2000
                -------------    -------------   -------------     ------------
<S>             <C>              <C>              <C>              <C>
Americas          $12,429          $12,355          $35,416          $37,939
Europe              1,139            1,746            4,002            5,246
Other                 572            1,211            1,830            2,650
                  -------          -------          -------          -------
                  $14,140          $15,312          $41,248          $45,835
                  =======          =======          =======          =======
</TABLE>


                                       6
<PAGE>
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 September 30, 2001 were $14.1 million,
representing a decrease of 8% from $15.3 million in the same period in 2000. The
decrease of $1.2 million for the three months ended September 30, 2001 was
mainly attributable to decreases in professional services and outsourcing
revenues, which was partially offset by an increase in maintenance revenues.
Revenues for the nine months ended September 30, 2001 were $41.2 million,
representing a decrease of 10% from $45.8 million in the same period in 2000.
The decrease of $4.6 million for the nine months ended September 30, 2001 was
attributable to a decrease in professional services and license revenues, which
was partially offset by an increase in maintenance revenues.

Software Licenses. Software license revenues for the three months ended
September 30, 2001 were $4.5 million, unchanged compared to the same period in
2000. Higher sales of CAMRA 2000 and PTS 2000 were offset by lower sales of
Antares 2000, SKYLINE, and Mabel. Software license revenues for the nine months
ended September 30, 2001 were $11.6 million, representing a decrease of 9% from
the $12.7 million for the same period in 2000. The decrease was primarily the
result of lower sales of Antares 2000, AdvisorWare 2000, Mabel, and SKYLINE,
which was partially offset by increased sales of CAMRA 2000, PTS 2000, and Total
Return 2000.

Maintenance. Maintenance revenues for the three months and nine months ended
September 30, 2001 were $6.7 million and $19.8 million, respectively,
representing increases of 6% and 2% over the $6.4 million and $19.5 million,
respectively, for the comparable periods in 2000. The increase was primarily due
to growth in the Company's installed base of clients requiring maintenance
services.

Professional Services. Professional services revenues for the three and nine
months ended September 30, 2001 were $1.5 million and $5.6 million,
respectively, representing decreases of 44% and 40% from the $2.7 million and
$9.4 million, respectively, for the comparable periods in 2000. The decreases
were primarily due to lower demand for the Company's implementation, conversion
and training services. The professional service revenues will be affected by the
Company's overall license revenue levels.

Outsourcing Services. Outsourcing services revenues for the three months ended
September 30, 2001 were $1.4 million representing a decrease of 20% from the
$1.7 million for the same period in 2000. The decrease was due primarily to
decreased demand by customers for outsourcing services. Revenues for the nine
months ended September 30, 2001 were $4.2 million, unchanged compared to the
same period in 2000.


Cost of Revenues

Total cost of revenues for the three and nine months ended September 30, 2001
were $4.7 million and $14.9 million, respectively, representing decreases of 14%
and 15%, respectively, from the $5.4 million and $17.5 million, respectively,
for the comparable periods in 2000. The gross margin increased to 67% in the
three months ended September 30, 2001 from 65% for the comparable period in
2000. For the nine months ended September 30, 2001, the gross margin increased
to 64% from 62% for the comparable period in 2000. This gross margin increase in
both the three and nine-month periods was primarily due to an increase in the
license and outsourcing revenue margins.

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. Cost of software licenses decreased 21% from $227,000 in
the three-month period ended September 30, 2000 to $180,000 for the same period
in 2001, representing 5% and 4% of license revenues in each of those quarters,
respectively. Cost of software licenses in the nine-month periods ended
September 30, 2000 and 2001 were $722,000 and $548,000, respectively,
representing 6% and 5%, respectively, of license revenues in each of those
periods. The decrease in costs for the nine months ending September 30, 2000 was
due primarily to the reduction in amortization for completed technology. The
amortization, which was related to the 1998 acquisition of Savid International,
was completed in the second quarter of 2000.


                                       7
<PAGE>
Cost of Maintenance. Cost of maintenance revenues primarily consists of
technical customer support and the engineering costs associated with product and
regulatory updates. The cost of maintenance increased from $1.6 million in the
three months ended September 30, 2000 to $1.7 million in the three months ended
September 30, 2001. The cost of maintenance increased from $4.9 million in the
nine months ended September 30, 2000 to $5.3 million in the nine months ended
September 30, 2001. The increase costs for both the three and nine-month periods
ended September 30, 2001 was mainly due to higher personnel and wage costs. The
cost of maintenance remained relatively constant as a percentage of such
revenues for the three and nine-month periods ended September 30, 2001 and 2000.

Cost of Professional Services. Cost of professional services revenues primarily
consists of the cost of 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 service revenues decreased 23% from $1.9 million in the three
months ended September 30, 2000 to $1.5 million for the same period in 2001,
representing 70% and 96%, respectively, of professional service revenues in each
of those periods. Cost of professional services revenue in the nine months ended
September 30, 2000 and 2001 were $7.0 million and $4.9 million respectively, and
represented 74% and 87%, respectively, of professional services revenues in each
of those periods. The Company has significantly reduced its professional
consulting organization due to the decrease in demand for the Company's
implementation services.

Cost of Outsourcing. Cost of outsourcing revenues primarily consists of the cost
of personnel utilized in servicing the Company's outsourcing clients. The cost
of outsourcing revenues decreased 23% from $1.7 million in the three months
ended September 30, 2000 to $1.3 million for the same period in 2001,
representing 102% and 98%, respectively, of outsourcing revenues in each of
those periods. Cost of outsourcing in the nine months ended September 30, 2000
and 2001 was $4.9 million and $4.1 million, respectively, representing 116% and
98%, respectively, of outsourcing revenues in each of those periods. The
decrease in the cost of outsourcing is due to lower personnel related costs as a
result of improved operational efficiencies.


Operating Expenses

Selling and Marketing. Selling and marketing expenses primarily consist 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. Selling and marketing expenses for
the three months ended September 30, 2001 were unchanged compared to the
comparable period in 2000, representing 18% and 20%, respectively, of total
revenues for those periods. These expenses decreased 5% from $9.3 million in the
nine months ended September 30, 2000 to $8.8 million for the same period in
2001, representing 20% and 21%, respectively, of total revenue for those
periods. The decrease for the nine-month period ended September 30, 2001 was
largely attributable to lower personnel-related costs and lower sales incentive
commissions due to lower revenues.

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
17% from $3.4 million in the three months ended September 30, 2000 to $2.8
million for the same period in 2001, representing 22% and 20%, respectively, of
total revenues for those periods. Research and development expenses decreased
21% from $11.2 million in the nine months ended September 30, 2000 to $8.8
million for the same period in 2001, representing 24% and 21%, respectively, of
total revenue for those periods. These decreases were mainly due to lower
personnel-related costs resulting from improved operational efficiencies.

General and Administrative. General and administrative expenses are primarily
composed of personnel costs attributable 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 28% from $3.6 million in the three months ended September 30, 2000 to
$2.8 million for the same period in 2001, representing 23% and 18%,
respectively, of total revenue for those periods. These expenses decreased 12%
from $9.0 million in the nine months ended September 30, 2000 to $8.0 million
for the same period in 2001, representing 20% and 19%, respectively, of total
revenues for those periods. The decreases were mainly attributable to lower bad
debt expense and a one-time performance payment of $750,000 during the three
months ended September 30, 2000 associated with the 1998 acquisition of Savid
International. The payment was based on certain revenue attainment goals.


                                       8
<PAGE>
Interest and Other Income (Expense), Net. Interest and other income (expense),
net consists primarily of interest income and other non-operational income and
expenses. Interest income, net decreased 19% from $815,000 for the three months
ended September 30, 2000 to $661,000 for the same period in 2001. The decrease
was due to lower returns caused by lower interest rates on investments. Included
in other income (expense), net for the nine months ended September 30, 2001 was
a gain on the sale of an equity investment of $1.8 million compared to a gain of
$0.5 million for the nine months ended September 30, 2000.

Provision for Income Taxes. The Company had effective tax rates of 31% and 38%
in the nine-month periods ended September 30, 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
from non-taxable to taxable securities.


LIQUIDITY AND CAPITAL RESOURCES

The Company's cash, cash equivalents and marketable securities at September 30,
2001 were $58.7 million, increasing $2.2 million from the $56.5 million at
December 31, 2000. Included in marketable securities at September 30, 2001 was
an equity investment valued at $1.1 million that is subject to considerable
market risk due to its volatility.

Net cash provided by operating activities was $5.8 million for the nine months
ended September 30, 2001. Cash provided by operating activities was primarily
due to earnings adjusted for non-cash items and a decrease in accounts
receivable offset by a decrease in deferred revenues and accrued expenses.
Accounts receivable decreased from $10.5 million at December 31, 2000 to $8.0
million at September 30, 2001, reducing days sales outstanding to 51 days.

Investing activities used cash of $0.6 million for the nine months ended
September 30, 2001. This was primarily due to capital expenditures of $1.7
million partially offset by the net proceeds from the sale of marketable
securities of $1.2 million.

Financing activities used cash of $1.7 million for the nine months ended
September 30, 2001. This was primarily due to the Company's stock repurchase
programs. The Company repurchased 308,600 shares of its common stock for
treasury in the nine months ended September 30, 2001 for a total cost of $1.9
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 12 months.


CERTAIN FACTORS THAT MAY AFFECT FUTURE OPERATING RESULTS

Fluctuations in Quarterly Performance. Historically, the Company's revenues and
operating results have fluctuated 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 continues to modify 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


                                       9
<PAGE>
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 its CAMRA 2000, AdvisorWare 2000, Total
Return 2000, PTS 2000, and SKYLINE software and the provision of maintenance and
consulting services in support of such software. The Company expects that the
revenue from these 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 such 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 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 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 many 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.


                                       10
<PAGE>
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.

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 September 30,
2001, foreign currency fluctuations have not had a material effect 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 minimize risk
discussed above should not be considered projections of future events or losses.


                                       11
<PAGE>
PART II - OTHER INFORMATION


ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

d. 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 September 30,
2001, the Company has used the net offering proceeds to the Company as follows
(in thousands):


<TABLE>
<S>                                                           <C>
            Corporate move and equipment purchases            $16,709
            Acquisition of other business                       5,333
            Repayment of indebtedness                           3,615
            Purchase of common stock for treasury               7,552
            Marketable securities                              19,591
                                                              -------
                  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. EXHIBIT AND REPORTS ON FORM 8-K

a.    NA.

b.    NA.


                                       12
<PAGE>
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: November 13, 2001        By:/s/ Anthony R. Guarascio
                               Anthony R. Guarascio
                               Senior Vice President and Chief Financial Officer
                               (Principal Financial and Accounting Officer)


                                       13