<PAGE>
--------------------------------------------------------------------------------
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
 
                                   FORM 10-Q
 
(Mark One)
 
[X]            QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF
                      THE SECURITIES EXCHANGE ACT OF 1934

                FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 1997
 
                                       OR
[ ]            TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934

                 For the transition period from_______to_______

                        Commission file number: 33-45417

                             THE BISYS GROUP, INC.

             (Exact name of registrant as specified in its charter)

<TABLE>
<CAPTION>
                        DELAWARE                                                  13-3532663
<S>                                                                  <C>
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)       (I.R.S. EMPLOYER IDENTIFICATION NO.)

</TABLE>

                    150 CLOVE ROAD, LITTLE FALLS, NEW JERSEY
                                     07424

                    (Address of principal executive offices)
                                   (Zip Code)

                                  973-812-8600

              (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___
   ---

INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE:

               CLASS                    SHARES OUTSTANDING AT JANUARY 26, 1998
--------------------------------------  --------------------------------------
COMMON STOCK, PAR VALUE $.02 PER SHARE               26,360,988

                         This document contains 15 pages.

--------------------------------------------------------------------------------

<PAGE>

                              THE BISYS GROUP, INC.
                               INDEX TO FORM 10-Q


<TABLE>
<CAPTION>

PART I. FINANCIAL INFORMATION                                               PAGE
<S>                                                                        <C>
 
  Item 1.Financial Statements

      Condensed Consolidated Balance Sheet as of December 31, 1997
        and June 30, 1997..........................................           3

      Condensed Consolidated Statement of Operations for the three
        and six months ended December 31, 1997 and 1996............           4

      Condensed Consolidated Statement of Cash Flows for the
        six months ended December 31, 1997 and 1996................           5

      Notes to Condensed Consolidated Financial Statements.........           6

  Item 2. Management's Discussion and Analysis of Results of Operations
          and Financial Condition..................................           8

PART II. OTHER INFORMATION.........................................          11

  Item 4.Submission of Matters to a Vote of Security Holders

  Item 6.Exhibits and Reports on Form 8-K
 
SIGNATURES.........................................................          12
 
EXHIBIT INDEX......................................................          13
</TABLE>

                                       2
<PAGE>

                                     PART I
 
                          ITEM 1. FINANCIAL STATEMENTS
 
                     THE BISYS GROUP, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEET
                 (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                         DECEMBER 31,   JUNE 30,
                                                                                             1997         1997
                                                                                         ------------  ----------
<S>                                                                                      <C>           <C>
 
ASSETS
 
Current assets:

  Cash and cash equivalents............................................................   $   96,218   $   79,951 
  Accounts receivable, net.............................................................       60,745       59,987
  Deferred tax asset...................................................................        5,121        5,083
  Prepaid expenses and other...........................................................        9,195        6,980
                                                                                         ------------  ----------
    Total current assets...............................................................      171,279      152,001
Property and equipment, net............................................................       34,397       32,111
Intangible assets, net.................................................................       76,544       75,719
Other assets...........................................................................       13,336        5,254
                                                                                         ------------  ----------
    Total assets.......................................................................   $  295,556   $  265,085
                                                                                         ------------  ----------
                                                                                         ------------  ----------
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Current maturities of long-term debt.................................................   $      145   $       83
  Accounts payable.....................................................................        9,628        6,673
  Accrued liabilities..................................................................       66,379       57,604
                                                                                         ------------  ----------
    Total current liabilities..........................................................       76,152       64,360
Long-term debt.........................................................................        1,627        1,585
Deferred tax liability.................................................................        9,225        6,860
Other liabilities......................................................................        2,569          361
                                                                                         ------------  ----------
    Total liabilities..................................................................       89,573       73,166
                                                                                         ------------  ----------
Stockholders' equity:
  Common stock, $.02 par value, 80,000,000 shares authorized,
  26,242,148 and 25,235,288 shares issued and outstanding, respectively................          525          505
  Additional paid-in capital...........................................................      162,651      153,775
  Retained earnings....................................................................       42,807       37,639
                                                                                         ------------  ----------
    Total stockholders' equity.........................................................      205,983      191,919
                                                                                         ------------  ----------
    Total liabilities and stockholders' equity.........................................   $  295,556   $  265,085
                                                                                         ------------  ----------
                                                                                         ------------  ----------
</TABLE>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.
 
                                       3
<PAGE>
                     THE BISYS GROUP, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
                     (IN THOUSANDS, EXCEPT PER SHARE DATA)
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                                                      THREE MONTHS ENDED      SIX MONTHS ENDED
                                                                         DECEMBER 31,           DECEMBER 31,
                                                                     --------------------  ----------------------

<S>                                                                  <C>        <C>        <C>         <C>       
                                                                       1997       1996        1997        1996   
                                                                     ---------  ---------  ----------  ----------

Revenues...........................................................  $  91,431  $  74,797  $  182,893  $  147,192
                                                                     ---------  ---------  ----------  ----------
Operating costs and expenses:
  Service and operating............................................     53,671     40,782     107,889      80,797
  General and administrative.......................................     13,972     13,033      29,578      26,755
  Selling and conversion...........................................      4,378      3,125       8,534       5,965
  Research and development.........................................      2,854      2,522       5,725       5,130
  Amortization of intangible assets................................        891        902       1,779       1,838
  Merger expenses and other charges................................     --         --          11,998      --    
                                                                     ---------  ---------  ----------  ----------
Operating earnings.................................................     15,665     14,433      17,390      26,707
Interest income, net...............................................      1,025        493       2,050         997
                                                                     ---------  ---------  ----------  ----------
Earnings before income tax provision...............................     16,690     14,926      19,440      27,704
Income tax provision...............................................      6,676      5,969       7,803      11,081
                                                                     ---------  ---------  ----------  ----------
Net earnings.......................................................  $  10,014  $   8,957  $   11,637  $   16,623
                                                                     ---------  ---------  ----------  ----------
                                                                     ---------  ---------  ----------  ----------
Basic earnings per share...........................................  $    0.38  $    0.36  $     0.44  $     0.67
                                                                     ---------  ---------  ----------  ----------
                                                                     ---------  ---------  ----------  ----------
Diluted earnings per share.........................................  $    0.37  $    0.34  $     0.43  $     0.63
                                                                     ---------  ---------  ----------  ----------
                                                                     ---------  ---------  ----------  ----------
</TABLE>

   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.
 
                                       4
<PAGE>
                     THE BISYS GROUP, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                                 (IN THOUSANDS)
                                  (UNAUDITED)
 
<TABLE>
<CAPTION>
                                                                                               SIX MONTHS ENDED
                                                                                                 DECEMBER 31,
                                                                                            ----------------------
 
<S>                                                                                         <C>         <C>       
                                                                                               1997        1996   
                                                                                            ----------  ----------
Cash flows from operating activities:
Net earnings..............................................................................  $   11,637  $   16,623
Adjustments to reconcile net earnings to net cash provided by operating activities:
  Depreciation and amortization...........................................................       7,049       5,682
  Loss on disposition or write-down of property and equipment.............................       2,507      --    
  Deferred income tax provision...........................................................       2,327       3,397
  Change in operating assets and liabilities, net of effects from acquisitions............       5,417     (16,660)
                                                                                            ----------  ----------
Net cash provided by operating activities.................................................      28,937       9,042
                                                                                            ----------  ----------
Cash flows from investing activities:
  Net cash acquired in acquisitions.......................................................       1,490      --     
  Capital expenditures....................................................................      (8,705)     (7,675)
  Proceeds from sales of investments......................................................       1,203       3,000
  Purchase of investments.................................................................      (6,513)     (3,000)
  Proceeds from sale of business..........................................................      --           3,827
  Purchase of intangible assets...........................................................      (1,383)     --    
  Other...................................................................................         301         291
                                                                                            ----------  ----------
Net cash used in investing activities.....................................................     (13,607)     (3,557)
                                                                                            ----------  ----------
Cash flows from financing activities:
  Repayment of debt.......................................................................      (2,080)       (115)
  Proceeds from exercise of stock options.................................................       3,017       3,219
                                                                                            ----------  ----------
Net cash provided by financing activities.................................................         937       3,104
                                                                                            ----------  ----------
Net increase in cash and cash equivalents.................................................      16,267       8,589
Cash and cash equivalents at beginning of period..........................................      79,951      39,284
                                                                                            ----------  ----------
Cash and cash equivalents at end of period................................................  $   96,218  $   47,873
                                                                                            ----------  ----------
                                                                                            ----------  ----------
</TABLE>
 
   The accompanying notes are an integral part of the condensed consolidated
                             financial statements.
 
                                       5


<PAGE>
                     THE BISYS GROUP, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                  (UNAUDITED)

1.  THE COMPANY
 
    The BISYS-Registered Trademark- Group, Inc. and subsidiaries (the 
    "Company") is a leading national provider of outsourcing solutions to 
    and through financial organizations.
 
    The condensed consolidated financial statements include the accounts 
    of The BISYS Group, Inc. and its subsidiaries and have been prepared 
    consistent with the accounting policies reflected in the fiscal 1997 
    Annual Report on Form 10-K filed with the Securities and Exchange 
    Commission and should be read in conjunction therewith. The condensed 
    consolidated financial statements include all adjustments (consisting 
    only of normal recurring adjustments) which are, in the opinion of 
    management, necessary to present fairly this information.
 
2.  USE OF ESTIMATES
 
    The preparation of financial statements in conformity with generally 
    accepted accounting principles requires management to make certain 
    estimates and assumptions that affect the reported amounts of assets and 
    liabilities and disclosure of contingent assets and liabilities at the 
    date of the financial statements and the reported amounts of revenue and 
    expenses during the reporting period. The most significant estimates are 
    related to the allowance for doubtful accounts, intangible assets, 
    merger expenses and other charges, income taxes and contingencies. 
    Actual results could differ from these estimates in the near term.

3.  EARNINGS PER SHARE
 
    In March 1997, the Financial Accounting Standards Board issued FAS 
    128, "Earnings Per Share". FAS 128 supersedes APB 15, "Earnings Per 
    Share", and changes the computation of earnings per share (EPS) by 
    replacing the "primary" EPS requirements of APB 15 with a "basic" EPS 
    computation based upon weighted average shares outstanding. It also 
    requires dual presentation of basic and diluted EPS on the face of the 
    income statement for all entities with complex capital structures. FAS 
    128 is effective for financial statements issued for periods ending 
    after December 15, 1997, including interim periods. The Company has 
    adopted FAS 128 in the second quarter of fiscal year 1998 and has 
    restated earnings per share computed under the provisions of FAS 128 for 
    all periods presented.

3.  EARNINGS PER SHARE (CONTINUED)

    Basic and diluted EPS computations for the three months and six 
    months ended December 31, 1997 and 1996 are as follows (in thousands, 
    except per share amounts):

<TABLE>
<CAPTION>
                                                                         THREE MONTHS ENDED     SIX MONTHS ENDED
                                                                            DECEMBER 31,          DECEMBER 31,
                                                                        --------------------  --------------------
 
<S>                                                                     <C>        <C>        <C>        <C>
                                                                          1997       1996       1997       1996
                                                                        ---------  ---------  ---------  ---------
Basic EPS
Net earnings..........................................................  $  10,014  $   8,957  $  11,637  $  16,623
                                                                        ---------  ---------  ---------  ---------
                                                                        ---------  ---------  ---------  ---------

Weighted average common shares outstanding............................     26,199     25,016     26,156     24,931
                                                                        ---------  ---------  ---------  ---------
                                                                        ---------  ---------  ---------  ---------

                                       6

<PAGE>


Basic EPS.............................................................  $    0.38  $    0.36  $    0.44  $    0.67
                                                                        ---------  ---------  ---------  ---------
                                                                        ---------  ---------  ---------  ---------
Diluted EPS
Net earnings..........................................................  $  10,014  $   8,957  $  11,637  $  16,623
                                                                        ---------  ---------  ---------  ---------
                                                                        ---------  ---------  ---------  ---------
Weighted average common shares outstanding............................     26,199     25,016     26,156     24,931
Assumed conversion of common shares issuable under stock option
  plans...............................................................        941      1,378      1,044      1,348
                                                                        ---------  ---------  ---------  ---------
Weighted average common and common equivalent shares outstanding......     27,140     26,394     27,200     26,279
                                                                        ---------  ---------  ---------  ---------
                                                                        ---------  ---------  ---------  ---------
Diluted EPS...........................................................  $    0.37  $    0.34  $    0.43  $    0.63
                                                                        ---------  ---------  ---------  ---------
                                                                        ---------  ---------  ---------  ---------
</TABLE>

    Options to purchase 1,649,500 shares of common stock at various 
    prices ranging from $33.25 to $39.00 were outstanding at December 31, 
    1997, but were not included in the computation of diluted EPS because 
    the options' exercise price was greater than the average market price of 
    common shares.

4.  BUSINESS COMBINATIONS
 
    On August 15, 1997, the Company merged with Charter Systems, Inc. 
    (Charter) by exchanging 588,945 shares of BISYS common stock and 258,605 
    BISYS equivalent stock options for all the outstanding shares and stock 
    options of Charter.
     
    On August 29, 1997, the Company merged with Dascit/White & Winston 
    and affiliated companies (DWW) by exchanging 134,396 shares of BISYS 
    common stock for all the outstanding stock of DWW.

    On September 16, 1997, the Company merged with Benefit Services, 
    Inc. (BSI) by exchanging 71,448 shares of BISYS common stock for all the 
    outstanding shares of BSI.

    The acquisitions of Charter, DWW and BSI have been accounted for as 
    poolings of interest, although historical financial statements have not 
    been restated due to immateriality. The acquired companies' results of 
    operations have been included in BISYS' results of operations effective 
    July 1, 1997. Total stockholders' equity at July 1, 1997 decreased $1.9 
    million due to the impact of the acquisitions. The Company incurred a 
    pre-tax charge of $5,263,000 during the six months ended December 31, 
    1997 for costs associated with these mergers. The components of the 
    charge are as follows:

<TABLE>
<S>                                                               <C>
    Merger transaction expenses (legal and financial)........  $1,805,000
    Compensation related.....................................   1,475,000
    Facilities related.......................................   1,100,000
    Other....................................................     883,000
                                                              -----------
                                                               $5,263,000
                                                              -----------
                                                              -----------
</TABLE>

                                       7

<PAGE>


5. REALIGNMENT CHARGE
 
    During the six months ended December 31, 1997, the Company incurred 
    a pre-tax charge of $6,735,000 to realign operations primarily in 
    conjunction with a client of the Company's Fund Services division 
    terminating its distribution and administrative agreements effective 
    September 1997. The components of the charge are as follows:

<TABLE>
<S>                                                           <C>
    Compensation related....................................   $2,247,300
    Facilities related......................................    2,016,100
    Systems related.........................................    1,752,000
    Other...................................................      720,100
                                                              -----------
                                                               $6,735,000
                                                              -----------
                                                              -----------
</TABLE>
 
                                       8
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
         RESULTS OF OPERATIONS AND FINANCIAL CONDITION
 
    The Company provides outsourcing solutions to and through financial
organizations which is reported as a single segment. The operating margins for
each business unit of the Company are not significantly different. The following
table presents the percentage of revenues represented by each item in the
Company's condensed consolidated statement of operations for the periods
indicated:
 
<TABLE>
<CAPTION>
                                                                                   THREE MONTHS ENDED     SIX MONTHS ENDED
                                                                                      DECEMBER 31,          DECEMBER 31,
                                                                                  --------------------  --------------------
 
<S>                                                                               <C>        <C>        <C>        <C>      
                                                                                    1997       1996       1997       1996   
                                                                                  ---------  ---------  ---------  ---------
 
Revenues........................................................................      100.0%     100.0%     100.0%     100.0%
                                                                                  ---------  ---------  ---------  --------- 
Operating costs and expenses:
  Service and operating.........................................................       58.7       54.5       59.0       54.9
  General and administrative....................................................       15.3       17.4       16.2       18.2
  Selling and conversion........................................................        4.8        4.2        4.7        4.0
  Research and development......................................................        3.1        3.4        3.1        3.5
  Amortization of intangible assets.............................................        1.0        1.2        1.0        1.3
  Merger expenses and other charges.............................................     --         --            6.5     --    
                                                                                  ---------  ---------  ---------  ---------
Operating earnings..............................................................       17.1       19.3        9.5       18.1
Interest income, net............................................................        1.1        0.7        1.1        0.7
                                                                                  ---------  ---------  ---------  ---------
Earnings before income tax provision............................................       18.2       20.0       10.6       18.8
Income tax provision............................................................        7.3        8.0        4.3        7.5
                                                                                  ---------  ---------  ---------  ---------
Net earnings....................................................................       10.9%      12.0%       6.3%      11.3%
                                                                                  ---------  ---------  ---------  ---------
                                                                                  ---------  ---------  ---------  ---------
</TABLE>
 
COMPARISON OF THE THREE MONTHS ENDED DECEMBER 31, 1997 WITH THE THREE MONTHS
  ENDED DECEMBER 31, 1996.
 
    Revenues increased 22% from $74.8 million for the three months ended 
    December 31, 1996 to $91.4 million for the three months ended December 
    31, 1997. This growth was derived from sales to new clients, existing 
    client growth, cross sales to existing clients and revenues from 
    acquired businesses, partially offset by lost business and revenue from 
    the Item Processing division which was sold in the second quarter of 
    fiscal 1997.
     
    Service and operating expenses increased 31.6 % from $40.8 million 
    during the three months ended December 31, 1996 to $53.7 million for 
    three months ended December 31, 1997, and increased as a percentage of 
    revenues from 54.5% to 58.7%. These increases resulted from additional 
    costs associated with greater revenues.
 
    General and administrative expenses increased 7.2% from $13.0 
    million during the three months ended December 31, 1996, to $14.0 
    million for the three months ended December 31, 1997, and decreased
    as a percentage of revenues from 17.4% to 15.3%. The dollar increase 
    resulted from additional costs associated with acquired businesses and 
    additional revenues. The decrease as a percentage of revenues resulted 
    from further utilization of existing general and administrative support 
    resources.
 
    Operating earnings increased 8.5% from $14.4 million during the three months
    ended December 31, 1996, to $15.7 million for the three months ended
    December 31, 1997, and decreased as a percentage of revenues from
    19.3% to 17.1%.
 
    Interest income was $0.5 million greater for the three months ended December
    31, 1997 compared to the same period in the prior fiscal year due to higher
    levels of invested cash and cash equivalents.

                                       9
<PAGE>

    The income tax provision of $6.7 million for the three months ended 
    December 31, 1997 increased from $6.0 million for the three months ended 
    December 31, 1996 primarily due to higher taxable income. The provision 
    represents an effective tax rate of 40% for the three months ended 
    December 31, 1997 and December 31, 1996.
 
COMPARISON OF THE SIX MONTHS ENDED DECEMBER 31, 1997 WITH THE SIX MONTHS ENDED
  DECEMBER 31, 1996
 
    Revenues increased 24.2% from $147.2 million for the six months 
    ended December 31, 1996 to $182.9 million for the six months ended 
    December 31, 1997. This revenue growth was derived from sales to new 
    clients, existing client growth, cross sales to existing clients and 
    revenues from acquired businesses, partially offset by lost business and 
    revenue from the Item Processing division.
 
    Service and operating expenses increased 33.5% from $80.8 million 
    during the six months ended December 31, 1996 to $107.9 million for the 
    six months ended December 31, 1997, and increased as a percentage of 
    revenues from 54.9% to 59.0%. These increases resulted from additional 
    costs associated with greater revenues.
 
    General and administrative expenses increased 10.6% from $26.8 
    million during the six months ended December 31, 1996 to $29.6 million 
    for the six months ended December 31, 1997, and decreased as a 
    percentage of revenues from 18.2% to 16.2%. The dollar increase resulted 
    from additional costs associated with greater revenues. The decrease as 
    a percentage of revenues resulted from further utilization of existing 
    general and administrative support resources.
 
    Operating earnings of $17.4 million for the six months ended 
    December 31, 1997 decreased from $26.7 million for the six months ended 
    December 31, 1996, and decreased as a percentage of revenues from 18.1% 
    to 9.5%. The decrease in operating earnings resulted primarily from one 
    time charges of $5.3 million in connection with three acquisitions 
    consummated during the fiscal first quarter ended September 30, 1997 and 
    a $6.7 million charge to realign operations.
 
    Interest income was $2.0 million for the six months ended December 
    31, 1997 compared to $1.0 million for the six months ended December 31, 
    1996 due to higher levels of invested cash and cash equivalents.
 
    The income tax provision of $7.8 million for the six months ended 
    December 31, 1997 decreased from $11.1 million for the six months ended 
    December 31, 1996. The provision represents an effective tax rate of 40% 
    for the six months ended December 31, 1997 and December 31, 1996.

LIQUIDITY AND CAPITAL RESOURCES
 
    At December 31, 1997, the Company had cash and cash equivalents of 
    $96.2 million and working capital of approximately $95.1 million. The 
    Company has been able to finance its cash requirements through its cash 
    flows from operations. At December 31, 1997, the Company had $0.1 
    million outstanding in the form of letters of credit. The interest rate 
    on other outstanding long-term borrowings of $1.8 million at December 
    31, 1997 was 7.75%.

    For the six months ended December 31, 1997, operating activities 
    provided cash of $28.9 million. Investing activities used cash of $13.6 
    million primarily for capital expenditures of $8.7 million and 
    investments of $6.5 million, offset by cash acquired in acquisitions of 
    $1.5 million and proceeds from sale of investments of $1.2 million. 
    Financing activities provided cash of $0.9 million from proceeds of $3.0 
    million from the exercise of stock options offset by repayment of debt 
    acquired in a merger of $2.1 million.

MERGER EXPENSES AND OTHER CHARGES
 
    In connection with the acquisitions of Charter, DWW and BSI, the 
    Company recorded transaction-related charges of $5,263,000 during the 
    three months ended September 30, 1997. Additionally, the Company 

                                       10
<PAGE>

    incurred a one time charge of $6,735,000 to realign operations primarily 
    in connection with a client of the Company's Fund Services division 
    terminating its distribution and administrative agreements effective 
    September 1997.

    At December 31, 1997, approximately $7.6 million of costs to 
    integrate new operations arising from prior acquisitions and costs 
    relating to the realignment of certain operations are included in 
    accrued liabilities on the accompanying balance sheet. Approximately 
    $3.6 million of such expenses were paid during the three months ended 
    December 31, 1997.

    It is anticipated that the actions to realign and integrate the 
    aforementioned operations will be substantially completed by June 30, 
    1998.

YEAR--2000
 
    The Company has and will continue to make certain investments in its 
    software systems and applications to ensure the Company is year-2000 
    compliant. The Company has formed a steering committee which has 
    developed a comprehensive year-2000 compliance plan with an anticipated 
    completion date for remediation efforts of December 31, 1998. The 
    financial impact to the Company has not been and is not anticipated to 
    be material to its financial position or results of operations in any 
    given year.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

    Except for the historical information contained herein, the matters 
    discussed in this quarterly report are forward-looking statements which 
    involve risks and uncertainties, including but not limited to economic, 
    competitive, governmental and technological factors affecting the 
    Company's operations, markets, services and related products, prices, 
    and other factors discussed in the Company's prior filings with the 
    Securities and Exchange Commission. Although the Company believes that 
    the assumptions underlying the forward-looking statements contained 
    herein are reasonable, any of the assumptions could be inaccurate. 
    Therefore, there can be no assurance that the forward-looking statements 
    included in this quarterly report will prove to be accurate. In light of 
    the significant uncertainties inherent in the forward-looking statements 
    included herein, the inclusion of such information should not be 
    regarded as a representation by the Company or any other person that the 
    objectives and plans of the Company will be achieved.

                                       11

<PAGE>

                                    PART II
 
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
 
        At the Annual Meeting of Stockholders of the Company, held on 
        November 13, 9197, the Stockholders approved the following matters:
 
        1. Re-election of all seven Directors named below to hold office 
           until the next Annual Meeting of Stockholders and until their
           successors have been duly elected and qualified:

<TABLE>
<CAPTION>
                                           NUMBER OF
                                            VOTES IN
               NAME OF DIRECTOR              FAVOR
               -------------------------  ------------
               <S>                        <C>
                
               Lynn J. Mangum...........    22,360,518
                
               Robert J. Casale.........    22,308,674
                
               Thomas A. Cooper.........    22,307,674
                
               Jay W. DeDapper..........    22,360,066
                
               John J. Lyons............    22,360,859
                
               Thomas E. McInerney......    22,360,759
                
               Neil P. Marcous..........    22,342,559
</TABLE>

<TABLE>
<CAPTION>
                                                                              FOR           AGAINST      ABSTAIN
                                                                          ------------    ----------    ---------
        <S>      <C>                                                      <C>             <C>           <C>

        2.        1998 Employee Stock
                  Purchase Plan.....................................      20,769,024        187,903        4,978

        3.        Amendment to 1996
                  Stock Option Plan.................................      12,144,307      8,703,204       12,841

        4.        Amendment to Non-Employee 
                  Directors' Stock Option Plan......................      15,745,355      5,203,808       12,742

        5.        Appointment of Coopers & Lybrand,
                  L.L.P. as independent accountants for
                  fiscal year 1998..................................      22,477,954          1,051        1,422
</TABLE>


ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K
 
     (A)  EXHIBITS
 
          None
 
     (B)  REPORTS ON FORM 8-K
 
          None
 
                                       12

<PAGE>

                                   SIGNATURES
 
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.
 
<TABLE>
<S>                            <C>
                               THE BISYS GROUP, INC.


DATE: FEBRUARY 12, 1998     BY: /S/ ROBERT J.MCMULLAN
      -----------------     -----------------------------------------------
                            ROBERT J. MCMULLAN
                            EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
                            (DULY AUTHORIZED OFFICER)
</TABLE>
 
                                      13

<PAGE>

                             THE BISYS GROUP, INC.
                                 EXHIBIT INDEX

<TABLE>
<CAPTION>


EXHIBIT NO.                                                         PAGE
-----------                                                       ---------
<S>                                                               <C>

       (27)  Financial Data Schedule.............................          
(electronic only)

</TABLE>

                                      14