<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 MARCH 31, 2002

                                       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)

        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, 2002:

                  Class                            Number of Shares Outstanding
                  -----                            ----------------------------
common stock, par value $0.01 per share                     12,443,032


================================================================================

<PAGE>



                             SS&C TECHNOLOGIES, INC.

                                      INDEX

                                                                      Page
                                                                     Number
                                                                     ------

PART I.    FINANCIAL INFORMATION

Item 1.    Financial Statements

           Consolidated Balance Sheets at
           March 31, 2002 and December 31, 2001                         2

           Consolidated Statements of Operations for the
           three-month periods ended March 31, 2002 and 2001            3

           Consolidated Statements of Cash Flows for the
           three-month periods ended March 31, 2002 and 2001            4

           Notes to Consolidated Financial Statements                   5

Item 2.    Management's Discussion and Analysis of Financial
           Condition and Results of Operations                          9

Item 3.    Quantitative and Qualitative Disclosures
           About Market Risk                                           14

PART II.   OTHER INFORMATION

Item 6.    Exhibits and Reports on Form 8-K                            14

           SIGNATURE                                                   15



      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>
                                                        March 31,
                                                          2002      December 31,
                                                       (unaudited)      2001
                                                       -----------  ------------
<S>                                                 <C>          <C>

ASSETS

Current assets

      Cash and cash equivalents                         $ 16,297       $ 28,425
      Investments in marketable securities                32,557         31,077
      Accounts receivable, net of allowance               10,802          8,944
           for doubtful accounts
      Prepaid expenses and other current assets            1,057          1,459
      Deferred income taxes                                2,002          2,210
                                                        --------       --------
Total current assets                                      62,715         72,115
                                                        --------       --------
Property and equipment
      Leasehold improvements                               3,233          3,225
      Equipment, furniture, and fixtures                  16,384         15,967
                                                        --------       --------
                                                          19,617         19,192
      Less accumulated depreciation                      (12,288)       (11,468)
                                                        --------       --------
         Net property and equipment                        7,329          7,724
                                                        --------       --------
Deferred income taxes                                      6,952          6,916
Intangible and other assets, net of
   accumulated amortization                                3,678          2,024
                                                        --------       --------
Total assets                                            $ 80,674       $ 88,779
                                                        ========       ========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
      Accounts payable                                  $   953        $ 1,079
      Income taxes payable                                  352            696
      Accrued employee compensation and benefits          1,149          1,722
      Other accrued expenses                              1,921          3,055
      Deferred maintenance and other revenue             14,987          9,279
                                                        --------       --------
Total current liabilities                                19,362         15,831
                                                        --------       --------
Total liabilities                                        19,362         15,831
                                                        --------       --------

Stockholders' equity

      Common stock                                          164            163
      Treasury stock                                    (20,142)        (8,003)
      Additional paid-in capital                         90,112         89,674
      Accumulated other comprehensive income               (685)           186
      Accumulated deficit                                (8,137)        (9,072)
                                                        --------       --------
Total stockholders' equity                               61,312         72,948
                                                        --------       --------
Total liabilities and stockholders' equity             $ 80,674       $ 88,779
                                                        ========       ========

</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
                                                     ------------------------
                                                     March 31,      March 31,
                                                       2002           2001
                                                     ---------      ---------
<S>                                              <C>            <C>

Revenues:
  Software licenses                                  $ 3,205        $ 3,212
  Maintenance                                          6,815          6,413
  Professional services                                1,940          1,999
  Outsourcing                                          3,255          1,418
                                                     -------        -------
    Total revenues                                    15,215         13,042
                                                     -------        -------
Cost of revenues:
  Software licenses                                      323            180
  Maintenance                                          1,430          1,815
  Professional services                                1,392          2,071
  Outsourcing                                          2,152          1,432
                                                     -------        -------
     Total cost of revenues                            5,297          5,498
                                                     -------        -------
Gross profit                                           9,918          7,544
                                                     -------        -------
Operating expenses:
  Selling and marketing                                2,660          2,881
  Research and development                             2,861          3,173
  General and administrative                           1,992          2,529
  Write-off of purchased in-process
    research and development                           1,744             --
                                                     -------        -------
      Total operating expenses                         9,257          8,583
                                                     -------        -------
Operating income (loss)                                  661         (1,039)
                                                     -------        -------

Interest income, net                                     442            721
Other income, net                                        455          1,234
                                                     -------        -------

Income before income taxes                             1,558            916
Provision for income taxes                               623            330
                                                     -------        -------
Net income                                           $   935        $   586
                                                     =======        =======
Basic earnings per share                             $  0.07        $  0.04
                                                     =======        =======
Basic weighted average number of common
  shares outstanding                                  13,905         15,105
                                                     =======        =======
Diluted earnings per share                           $  0.06        $  0.04
                                                     =======        =======
Diluted weighted average number of common
  and common equivalent shares outstanding            14,436         15,166
                                                     =======        =======
</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>
                                                           Three months ended
                                                        ------------------------
                                                        March 31,      March 31,
                                                          2002           2001
                                                        ---------      ---------
<S>                                                 <C>            <C>

Cash flow from operating activities:

     Net income                                         $    935       $    586
                                                        ========       ========
Adjustments to reconcile net income to net cash
  provided by Operating activities:
     Depreciation and amortization                         1,091            880
     Gain on sales of equity investments                    (486)        (1,219)
     Loss (gain) on sale of property and equipment             1             (3)
     Deferred income taxes                                   172            331
     Purchased in-process research and development         1,744             --
     Provision for doubtful accounts                         146            332
     Changes in operating assets and liabilities,
      excluding effects from acquisitions:
         Accounts receivable                              (1,704)          (183)
         Prepaid expenses and other assets                   268             54
         Taxes receivable                                     --           (193)
         Accounts payable                                   (169)           224
         Accrued expenses                                 (1,733)        (1,544)
         Taxes payable                                      (347)            --
         Deferred maintenance and other revenues           5,742          2,819
                                                        --------       --------
            Total adjustments                              4,725          1,498
                                                        --------       --------
     Net cash provided by operating activities             5,660          2,084
                                                        ========       ========
Cash flow from investing activities:
     Additions to property and equipment                    (132)          (479)
     Proceeds from sale of property and equipment             --             16
     Cash paid for business acquisitions, net             (3,943)            --
       of cash received
     Additions to capitalized software and                    --            (81)
       other intangibles
     Purchases of marketable securities                   (5,526)       (12,807)
     Sales of marketable securities                        3,713         16,827
                                                        --------       --------
     Net cash (used in) provided by investing
       activities                                         (5,888)         3,476
                                                        ========       ========
Cash flow from financing activities:
     Repayment of debt                                      (146)           (90)
     Exercise of options                                     430             --
     Purchase of common shares for treasury              (12,139)          (504)
                                                        --------       --------
     Net cash used in financing activities               (11,855)          (594)
                                                        --------       --------

Effect of exchange rate changes on cash                      (45)            --
                                                        --------       --------
Net increase (decrease) in cash and cash
  equivalents                                            (12,128)         4,966

Cash and cash equivalents, beginning of period            28,425         20,690
                                                        --------       --------
Cash and cash equivalents, end of period                $ 16,297       $ 25,656
                                                        ========       ========

</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
March 31, 2002 and the results of its operations for the three months ended
March 31, 2002 and 2001. 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, 2001 which were included in the Company's
Annual Report on Form 10-K filed with the Securities and Exchange Commission.
The December 31, 2001 consolidated balance sheet data were derived from audited
financial statements, but do not include all disclosures required by generally
accepted accounting principles for annual financial statements. The results of
operations for the three months ended March 31, 2002 are not necessarily
indicative of the expected results for the full year.

2. Recent Accounting Policies

On January 1, 2002, the Company adopted Statement of Financial Accounting
Standards No. 142 "Goodwill and Other Intangible Assets" ("SFAS No. 142"). SFAS
No. 142 requires that goodwill and intangible assets with indefinite useful
lives no longer be amortized, but instead tested for impairment at least
annually. The Company has completed the impairment test for goodwill and has
determined that no potential impairment exists. Pro forma net income and net
income per share for the three months ended March 31, 2001, adjusted to
eliminate historical amortization of goodwill and related tax effects, are as
follows (in thousands):

<TABLE>
<CAPTION>

                                                  Three months
                                                     ended
                                                 March 31, 2001
                                                 --------------
<S>                                           <C>


            Reported net income                      $  586
            Add: goodwill amortization, net of tax       10
                                                     ------
              Pro forma net income                      596
                                                     ======

            Reported net income per share:
            Basic                                    $ 0.04
            Diluted                                  $ 0.04

            Pro forma earnings per share:
            Basic                                    $ 0.04
            Diluted                                  $ 0.04

</TABLE>

In addition, effective January 1, 2002, the Company adopted Emerging Issues Task
Force Issue No. 01-14, "Income Statement Characterization of Reimbursements
Received for 'Out of Pocket' Expenses Incurred" which requires that customer
reimbursements received for direct costs paid to third parties and related
expenses be characterized as revenue. Comparative financial statements for prior
periods have been reclassified to provide consistent presentation. For the three
months ended March 31, 2002 and 2001, the Company has presented customer
reimbursement revenue and expenses of $137,000 and $213,000, respectively,
within professional services in accordance with Issue No. 01-14. Customer
reimbursements represent direct costs paid to third parties primarily for travel
expenses. The adoption of Issue No. 01-14 did not impact the Company's financial
position, operating income or net income.

3. 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



                                       5
<PAGE>
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 1.4 million and 2.7 million shares at March 31,
2002 and 2001, 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,
                                                     2002             2001
                                                   ---------       ---------
<S>                                             <C>            <C>

  Basic weighted average shares outstanding         13,905          15,105
  Weighted average common stock equivalents--
    options                                            531              61
                                                   -------         -------
  Diluted weighted average shares outstanding       14,436          15,166
                                                   =======         =======
</TABLE>



4. 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 classified separately 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,        March 31,
                                                     2002             2001
                                                   ---------        ---------
<S>                                            <C>              <C>

 Net income                                          $ 935         $   586
 Foreign currency translation losses                   (51)           (209)
 Unrealized losses on marketable securities           (820)         (1,221)
                                                     -----         -------
 Total comprehensive income (loss)                   $  64         $  (844)
                                                     =====         =======
</TABLE>


5. Stock Repurchase Program

On May 24, 2001, the Company's Board of Directors authorized the continued
repurchase of shares of the Company's Common Stock up to an additional
expenditure of $20 million. As of March 31, 2002, the Company had repurchased
1,664,800 shares of its Common Stock for approximately $13.7 million under this
repurchase program. Including the stock repurchase program begun on May 23, 2000
and completed on May 23, 2001, the Company has repurchased a total of 2,868,019
shares of it's Common Stock for approximately $20.1 million as of March 31,
2002.

6. Acquisitions

On January 15, 2002, the Company acquired the assets and business of Real-Time
USA, Inc. (`Real-Time"), a solution provider of sell-side fixed income
applications. Real-Time delivers a comprehensive suite of front-, mid-, and
back-office applications via Application Service Provider (ASP) or license, to
commercial banks and broker-dealers throughout the United States. The
consideration for the deal was $4.0 million in cash and the assumption of
certain liabilities by the Company, with a potential earn-out payment by the
Company of up to $1.17 million in cash if certain 2002 Real-Time revenue targets
are achieved. A summary of the allocation of the acquisition purchase price is
as follows (in thousands):

<TABLE>

<S>                                                 <C>

            Current assets                             $   524
            Fair value of equipment, furniture             321
            and fixtures
            Current liabilities                           (159)
            Long term liabilities                          (63)
            Acquired in-process research and             1,744
            development
            Acquired completed technology                1,743
                                                       -------
                                                       $ 4,110
                                                       =======
</TABLE>


                                       6
<PAGE>
The acquisition was accounted for as a purchase and, accordingly, the net assets
and results from operations of Real-Time have been included in the consolidated
financial statements of the Company from January 1, 2002. The purchase price was
allocated to tangible and intangible assets, liabilities, and in-process
research and development based on their fair market value on the date of the
acquisition. The fair value assigned to intangible assets acquired was based on
an independent appraisal. The fair value of acquired completed technology of
$1.7 million was determined based on the future cash flows method. The acquired
completed technology will be amortized on a straight-line basis over four years,
the life of the product.

The Company recorded a one time write-off of $1.7 million in the period ended
March 31, 2002 related to the value of in-process research and development
("IPR&D) acquired as part of the purchase of Real-Time that had not yet reached
technological feasibility and had no alternative future use. Accordingly, these
costs were expensed upon acquisition. At the acquisition date, Real-Time was
developing Lightning, a full-service ASP bond accounting solution designed
specifically for large regional banks. The allocation of $1.7 million to IPR&D
represents the estimated fair value related to this incomplete project based on
risk-adjusted cash flows adjusted to reflect the contribution of core
technology. The net cash flows were then discounted utilizing a weighted average
cost of capital of 26%. This discount rate takes into consideration the inherent
uncertainties surrounding the successful development of the in-process research
and development, the profitability levels of such technology and the uncertainty
of technological advances which could potentially impact the estimates. The
Lighting project was estimated to be 62% completed at the date of the
acquisition. The project is expected to be completed in the second half of 2002.

The unaudited pro forma condensed consolidated results of operations presented
below for the three months ended March 31, 2002 and 2001 assumes that the
Real-Time acquisition occurred at the beginning of 2001. The unaudited pro forma
condensed consolidated results of operations for the three months ended March
31, 2002 excludes the $1.7 million write-off of purchased IPR&D (in thousand
except per share data):

<TABLE>
<CAPTION>

                                                    2002          2001
                                                  --------      --------
<S>                                           <C>           <C>

            Total revenues                        $ 15,215      $ 14,070
            Operating income(loss)                   2,405        (1,036)
            Net income                               1,981           588
            Basic earnings per share              $   0.14      $   0.04
            Diluted earnings per share            $   0.14      $   0.04

</TABLE>

7. Reclassifications

Certain amounts in the Company's 2001 consolidated financial statements have
been reclassified to be comparable with the 2002 presentation. These
classifications have had no effect on net income, working capital or net equity.

8. 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 management believes could have a
material effect on the Company or its business.

In 1999, the Company recorded a tax benefit of $2.3 million on the $9.3 million
litigation settlement costs. In 2002, the Internal Revenue Service ("IRS")
notified the Company of a purported federal income tax deficiency related to the
1999 deduction for the litigation settlement costs. Payments totaling $6.8
million made pursuant to the settlement were deducted by the Company on its
1997, 1998 and 1999 income tax returns. The Company believes the deductions were
justified and intends to contest the proposed adjustment. The Company has made
no provision in its financial statements relating to the proposed adjustment. If
the IRS does not allow these deductions, the resulting tax liability could have
a material adverse effect on the Company's results of operations and cash flows
in the period reported.

9. 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, Europe and
others. The Americas segment consist of both North and South America. The
European segment includes European countries as well as the Middle East and
Africa. Other operating segments consist of Asia Pacific and Japan.


                                       7
<PAGE>
Revenues by geography for the three months ended March 31, were (in thousands):

<TABLE>
<CAPTION>

                                              (Unaudited)
                                         ----------------------
                                           2002           2001
                                         -------        -------
<S>                                  <C>           <C>

              Americas                   $13,740        $10,563
              Europe                       1,023          1,713
              Other                          452            766
                                         -------        -------
                                         $15,215        $13,042
                                         =======        =======

</TABLE>









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

CRITICAL ACCOUNTING POLICIES

The Company's significant accounting policies are summarized in Note 2 to its
Consolidated Financial Statements. However, certain of the Company's accounting
policies require the application of significant judgment by its management, and
such judgments are reflected in the amounts reported in its Consolidated
Financial Statements. In applying these policies, the Company's management uses
its judgment to determine the appropriate assumptions to be used in the
determination of estimates. Those estimates are based on the Company's
historical experience, terms of existing contracts, its observance of trends in
the industry, information provided by its clients, and information available
from other outside sources, as appropriate. Actual results may differ
significantly from the estimates contained in the Company's Consolidated
Financial Statements. The Company's significant accounting policies include:

Revenue Recognition. The Company's revenues consist primarily of software
license revenues, maintenance revenues, and professional and outsourcing
services revenues.

The Company applies the provisions of Statement of Position No. 97-2, "Software
Revenue Recognition" ("SOP 97-2") to all software transactions. The Company
recognizes revenues from the sale of software licenses when persuasive evidence
of an arrangement exists, the product has been delivered, the fee is fixed and
determinable, and collection of the resulting receivable is reasonably assured.
SOP 97-2 requires that revenues recognized from software transactions be
allocated to each element of the transaction based on the relative fair values
of the elements, such as software products, specific upgrades, enhancements,
post-contract client support, installation, or training. The Company defers
revenues from the transaction fee equivalent to the fair value of the
undelivered elements. The determination of fair value is based upon
vendor-specific objective evidence. The Company occasionally enters into
software license agreements requiring significant customization. The Company
accounts for these agreements on the percentage-of-completion basis and must
estimate the costs to complete the agreement utilizing an estimate of
development man-hours remaining. Due to uncertainties inherent in the estimation
process, it is at least reasonably possible that completion costs may be
revised. Such revisions are recognized in the period in which the revisions are
determined. Material differences may result in the amount and timing of the
Company's revenues for any period if management made different judgments or
utilized different estimates.

The Company recognizes revenues for maintenance services ratably over the
contract term. The Company's consulting, training, and outsourcing services are
generally billed based on hourly rates, and the Company generally recognizes
revenues over the period during which the applicable services are performed.

Allowance for Doubtful Accounts. The preparation of financial statements
requires the Company's management to make estimates relating to the
collectibility of its accounts receivable. Management establishes the allowance
for doubtful accounts based on historical bad debt experience. In addition,
management analyzes customer accounts, client concentrations, client
credit-worthiness, current economic trends, and changes in the Company's client
payment terms when evaluating the adequacy of the allowance for doubtful
accounts. Such estimates require significant judgment on the part of the
Company's management.

Income Taxes. The carrying value of the Company's net deferred tax assets
assumes that the Company will be able to generate sufficient future taxable
income in certain tax jurisdictions, based on estimates and assumptions. If
these estimates and related assumptions change in the future, the Company may be
required to record additional valuation allowances against its deferred tax
assets resulting in additional income tax expense in the Company's consolidated
statement of operations. Management evaluates the realizability of the deferred
tax assets quarterly and assesses the need for additional valuation allowances
quarterly. Such estimates require significant judgment on the part of the
Company's management. In addition, management evaluates the need to provide
additional tax provisions for adjustments proposed by taxing authorities.

RESULTS OF OPERATIONS

Revenues

The Company's revenues are derived from software licenses, related maintenance
and professional services and outsourcing services. Revenues for the three
months ended March 31, 2002 were $15.2 million, representing an increase of 17%
from the $13.0 million in the respective period in 2001. The increase of $2.2
million was primarily due to the acquisitions of Real-Time and Digital Visions
and increases in outsourcing and maintenance revenues.



                                       9
<PAGE>
Software Licenses. Software license revenues for the three months ended March
31, 2002 were $3.2 million, unchanged compared to the same period in 2001.
Revenues due to the acquisition of Real-Time and higher sales of LMS 2000 were
offset by lower sales of AdvisorWare and Antares.

Maintenance. Maintenance revenues for the three months ended March 31, 2002 were
$6.8 million, representing an increase of 6% from the $6.4 million in the
comparable period of the prior year. The increase was mainly attributable to
higher maintenance renewal rates and higher average maintenance fees offset by
discontinued products.

Professional Services. Professional services revenues for the three months ended
March 31, 2002 were $1.9 million, representing a decrease of 3% from the $2.0
million in the comparable period of the prior year. Professional services
revenues are impacted by the overall revenues from new license sales and demand
for services from existing clients.

Outsourcing. Outsourcing revenues for the three months ended March 31, 2002 were
$3.3 million, representing an increase of 130% from the $1.4 million in the
comparable period of the prior year. The increase is due to the acquisitions of
Real-Time and Digital Visions and increased demand for the Company's Direct
services.

Cost of Revenues

Total cost of revenues decreased by 4% from $5.5 million in the three months
ended March 31, 2001 to $5.3 million in the three months ended March 31, 2002.
The gross margin increased to 65% in the three months ended March 31, 2002 from
58% for the comparable period in 2001. The overall increase in gross margins is
due to improvements in professional services and outsourcing margins.

Cost of Software Licenses. Cost of software license revenues relates primarily
to royalties, the costs of product media, packaging and documentation and the
amortization of completed technology. The cost of software licenses increased
79% from $180 thousand in the three months ended March 31, 2001 to $323 thousand
in the three months ended March 31, 2002. The increase in costs was mainly due
to the increase in amortization of completed technology associated with the
Digital Visions and Real-Time acquisitions. Cost of software license as a
percentage of such revenues increased from 6% in the three months ended March
31, 2001 to 10% in the same period of 2002.

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 decreased 21% from $1.8 million in
the three months ended March 31, 2001 to $1.4 million in the three months ended
March 31, 2002. The decrease was primarily due to lower costs due to improved
operating efficiencies.

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 33% from $2.1 million in the
three months ended March 31, 2001 to $1.4 million in the three months ended
March 31, 2002. The cost of professional services revenues as a percentage of
such revenues decreased from 104% in the three months ended March 31, 2001 to
72% in the three months ended March 31, 2002. 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 consists primarily of the cost
related to personnel utilized in servicing the Company's outsourcing clients.
The cost of outsourcing revenues increased 50% from $1.4 million in the three
months ended March 31, 2001 to $2.2 million in the three months ended March 31,
2002, representing 101% and 66% 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 and
the higher margins associated with the revenues from the Digital Visions and
Real-Time acquisitions.

Operating Expenses

Total operating expenses increased 8% from $8.6 million in the three months
ended March 31, 2001 to $9.3 million in the three months ended March 31, 2002,
representing 66% and 61% of total revenues in those periods, respectively.
Included in the 2002 costs is a $1.7 million write-off of purchased in-process
research and development associated with the Company's acquisition of Real-Time
in the first quarter. Excluding the IPR&D, total operating costs decreased from
$8.6 million in the three months ended March 31, 2001 to $7.5 million in the
three months ended March 31, 2002 representing 66% and 49% of


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total revenues in those periods, respectively. The decrease in operating
expenses 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 8% from
$2.9 million in the three months ended March 31, 2001 to $2.7 million in the
three months ended March 31, 2002, representing 22% and 17% of total revenues in
those periods, respectively. The dollar decrease was largely attributable to
lower marketing and promotional costs and other operating expenses.

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
10% from $3.2 million in the three months ended March 31, 2001 to $2.9 million
in the three months ended March 31, 2002, representing 24% and 19% of total
revenues for those periods, respectively. 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 composed
primarily 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 21% from $2.5 million in the three months ended March 31, 2001 to $2.0
million in the three months ended March 31, 2002, representing 19% and 13%,
respectively, of total revenues for those periods. The dollar decrease was
largely attributable to the reduction in the expense for doubtful accounts and
other operating expenses.

Write-off of Purchased In-Process Research and Development. On January 15, 2002,
the Company acquired Real-Time. The acquisition was accounted for as a purchase
and accordingly, the purchase price was allocated to tangible and intangible
assets, liabilities, and in-process research and development based on their fair
market values on January 15, 2002. The acquired in-process research and
development had not yet reached technological feasibility and had no alternative
future use and accordingly $1.7 million was expensed on the date of the
acquisition.

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 $442,000 for the three months ended March 31, 2002
compared to $721,000 in the same period of 2001. The decrease in interest income
is mainly due to lower market interest rates on investments and lower cash
position due to the Company's stock repurchase plan during the past year.
Included in other income, net for the periods ended March 31, 2002 and March 31,
2001 were non-operational gains of $486 thousand and $1.2 million, respectively,
resulting from the sale of equity investments.

Provision for Income Taxes. The Company had an effective tax rate of 40% and 36%
in the periods ending March 31, 2002 and 2001, respectively. The higher tax rate
in 2002 is primarily due to lower tax credits in the period.

LIQUIDITY AND CAPITAL RESOURCES

The Company's cash, cash equivalents and marketable securities at March 31, 2002
were $48.9 million, which is a decrease of $10.6 million from $59.5 million at
December 31, 2001. The dollar decrease was mainly due to the stock repurchase
program and the cash paid for the Real-Time acquisition.

Net cash provided by operating activities was $5.7 million for the three months
ended March 31, 2002. Cash provided by operating activities was primarily due to
earnings adjusted for non-cash items and an increase in deferred maintenance and
other revenues. These items were partially offset by an increase in accounts
receivable and accrued expenses.

Investing activities used net cash of $5.9 million for the three months ended
March 31, 2002. Cash used in investing activities was primarily due to $3.9
million cash paid for the acquisition of Real-Time and the $1.8 million net
purchases of marketable securities.

Financing activities used net cash of $11.9 million. Cash used in financing
activities was primarily due to the Company's activities under its stock
repurchase plan. The Company repurchased 1.4 million shares of common stock for
treasury in the three-month period ended March 31, 2002 for a total cost of
$12.1 million.


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<PAGE>
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; changes in the Company's personnel; 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 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. Accordingly, 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, AdvisorWare, SKYLINE, Total
Return, and PTS 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, greater name recognition,
and generate higher revenues 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.

INTEGRATION OF OPERATIONS. The Company's success is dependent in part on its
ability to complete the integration of the operations of its recent
acquisitions, including Digital Visions and Real-Time, in an efficient and
effective manner. Successful integration in a rapidly changing financial
services industry may be more difficult to accomplish than in other industries.
The

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<PAGE>
combination of these acquired businesses will require, among other things,
integration of product offerings and coordination of the businesses sales and
marketing and research and development efforts. There can be no assurance that
such integration will be accomplished smoothly or successfully. The difficulties
of such integration may be increased by the necessity of coordinating
geographically separated organizations. The integration of certain operations
will require the dedication of management resources that may temporarily
distract attention from the day-to-day business of the Company. The inability of
management to successfully integrate the operations of acquired companies could
have a material adverse effect on the Company's business, financial condition,
and results of operations of the Company.

DEPENDENCE ON PROPRIETARY TECHNOLOGY. The Company's success and ability to
compete depends 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 depends 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 is exposed to 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.

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.

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.


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<PAGE>
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 the time
customers are invoiced in local currency until collection occurs. Through March
31, 2002, 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 mitigate risk
discussed above should not be considered projections of future events or losses.

PART II - OTHER INFORMATION

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

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

b.    (i) On January 29, 2002, the Company filed a Current Report on Form 8-K,
      dated January 15, 2002, to report under Item 5 (Other Events) the
      Company's acquisition of Real-Time USA, Inc. for cash consideration of
      $4.0 million and the assumption of certain liabilities. No financial
      statements were required to be filed under such report.

      (ii) On January 29, 2002, the Company filed amendment No. 1 to Current
      Report on Form 8-K, dated November 15, 2001, to report under Item 7
      (Financial Statements, Pro Forma Financial Information and Exhibits) the
      Financial Statements and Financial information required to be filed as a
      part of the acquisition of Digital Visions business of Netzee, Inc.




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                                    SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, 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 15, 2002        By: /s/ Anthony R. Guarascio

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





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