SS&C Technologies Strengths, Domain Expertise, and Key Differentiators
After making dozens of acquisitions since 1995, SS&C Technologies has become one of the leading application vendors for the financial services industry. It primarily targets buy-side clients such as investment managers and hedge funds in North America, Asia, and Europe.
SS&C's software products and services are designed for front-to-back office operations including trading and modeling, portfolio management and reporting, as well as accounting, performance measurement, reconciliation, reporting, processing, and clearing. SS&C complements its acquisition strategy with a relentless focus on research and development. They developed and released Precision LM, comprehensive commercial loan origination and servicing system, including performance and tax optimization modules. Their real-time mobility technology allows their clients to verify cash movements as well as review other operational details from their phones and tablets.
SS&C Technologies Recent Developments
In November 2021, SS&C Technologies released Advent product Updates of its full line of SS&C Advent solutions, including Advent Portfolio Exchange, Advent Genesis, Advent Outsourcing Services, Geneva, and other related platforms.
In April 2020, SS&C Technologies launched Advent TransPort, a solution for customizing custodial data. The latest addition to Advent Data Solutions enables clients to apply custom rules and logic to standard custodial data files before loading them into accounting platforms. TransPort streamlines operations by giving users the power to customize their ACD files and filter out any unwanted data. Firms are then able to focus on their unique data requirements and easily add new values. The service is deployed in the cloud, with SS&C Advent handling data normalization for more than 800 data sources.
In March 2020, an interactive dashboard for its BenefiX solution. The latest release of Benefix includes a dashboard that provides additional control over the enrollment and the eligibility file transmission process. The new features help employers address administrative gaps and mitigate liability."
SS&C Technologies Mergers and Acquisitions (M&A) Activities
In April 2021, SS&C acquired Capita Life & Pensions Services (Ireland) Limited (CLPSI) and certain related businesses. The acquisition grows SS&C's presence in the international life insurance and pensions servicing market. With approximately 380 employees in Dublin, Belfast, and Craigforth, the business offers financial and back-office administration services, claims management, actuarial and financial reporting, investment administration, product and IT development, and business transformation services.
In December 2020, SS&C Technologies Holdings acquired Millennium Consulting Services and Millennium Seminar Services. Raleigh, North Carolina-based Millennium Consulting Services and Millennium Seminar Services provide a broad array of consulting and training services to insurance companies and insurance regulators. The purchase price for the two entities was not disclosed. The acquisition of Millennium Consulting Services augments SS&C's offerings for statutory outsourcing, investment outsourcing, quality control reviews, and advisory services. Millennium Seminar Services further enhances SS&C's insurance offerings with experienced staff, client regulatory, and insurance accounting training.
In December 2020, SS&C acquired Captricity, the maker of Vidado data transformation platform. The Oakland, California-based Captricity offers an enterprise-grade machine learning solution that enables fast, scalable, and highly accurate extraction of handwritten and machine-printed data from paper documents.
In May 2020, SS&C acquired Innovest Systems, the provider of web-based technology systems for trust accounting, payments, and unique asset servicing. The acquisition will enable SS&C to broaden its wealth management technology suite. Glenn Schmidt will continue to lead SS&C Innovest as General Manager.
In November 2018, SS&C Technologies acquired Intralinks, a financial technology provider for global banking, deal-making, and capital markets communities. Intralinks facilitate strategic initiatives including mergers and acquisitions, capital raising, and investor reporting by enabling and securing the flow of information. Intralinks also provides the leading investor communications platform for private equity and hedge fund professionals with the largest hosted community of general and limited partners for the alternative investments industry. Intralinks bringed to SS&C over 800 employees globally and more than 4,000 clients including banks, alternative and blue-chip corporate clients.
In October 2018, SS&C Technologies acquired Eze Software, a global provider of investment management solutions. Eze Software serves asset managers, including a mix of hedge fund, long-only asset manager, multi-manager and asset owner clients. As a result of the acquisition, SS&C adds 1,050 employees in 15 offices and more than 2,500 clients across five continents. And since it has signed more than 11o customers."
SS&C Technologies Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying SS&C Technologies applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of SS&C Technologies and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified SS&C Cloud Solutions, customers.
SS&C Technologies Overview
Ownership: - Nasdaq : SSNC
Number of Employees: 24900
Functional Markets: Analytics and BI, Content Management, CRM, EPM, ERP Financial, ERP Services and Operations Management, HCM, TRM,
Key Verticals: Banking and Financial Services, Real Estate, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance,
SS&C Technologies Key Enterprise and Cloud Applications
SS&C Cloud Solutions,
SS&C Technologies Revenues, $M:
| Type/Year | 2020 | 2021 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
SS&C Technologies Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
SS&C Technologies Enterprise Applications Revenues By Functional Markets, $M:
SS&C Technologies Enterprise Applications Revenues By Verticals, $M:
SS&C Technologies Revenues By Region, $M
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 Enterprise Applications Revenues, $M | 2021 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
SS&C Technologies Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
SS&C Technologies Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified SS&C Technologies Customers
No. of SS&C Technologies Customers: 18000
No. of SS&C Technologies Enterprise Applications Customers: x
No. of SS&C Technologies Cloud Customers: x
No. of SS&C Technologies Cloud Subscribers: x
SS&C has over 18,000 clients globally in the financial services industry that require a full range of information management and analysis, accounting, actuarial, reporting and compliance software on a timely and flexible basis.
Its clients include multinational banks, retail banks and credit unions, hedge funds, funds of funds and family offices, institutional asset managers, insurance companies and pension funds, municipal finance groups, brokers/dealers, financial exchanges, commercial lenders, real estate lenders and property managers. Customer wins included: Moco, Inc., Salient, Nicola Wealth Management, Old National Bank, Linear Investments, Home Financial Services, Scotiabank, Fulcrum, Fundhost, First Samuel, Lone Pine Capital, Bombardier, PD Capital Management, Patelco Credit Union, Grupo Vidanta, Sanlam Private Investments, Alken Asset Management, Amegy Bank of Texas, AMI Partners Inc., Associated Bank, Cincinnati Financial Corporation, Fifth Third Bancorp, FirstSouthwest, Greystone Managed Investments Inc., Middlebury College, Milestone Investment Counsel Inc., Mondrian Investment Partners, Monro Muffler Brake Inc., Optimum Asset Management, Registered Investment Advisor, Reich&Tang, Sceptre Investment Counsel Limited, Sionna Investment Managers Inc., Sponsors for Educational Opportunity (SEO), Trilogy Global Advisors, Unum Group, Warakirri Asset Management Pty Ltd and Zurich Investment Services Ltd.
SS&C Technologies Market Opportunities, M&A and Geo Expansions
In September 2021, SS&C Technologies launched ts ESG reporting solutions platform for asset managers to better monitor and report on ESG exposure in their portfolios. SS&C's platform will support compliance with the EU Sustainable Finance Disclosure Regulation (SFDR) and deliver greater insights and transparency into ESG portfolio risks. SS&C partnered with Sustainalytics to create investor transparency, carbon risk, and sensitive sector exposure disclosure reports. The platform scans managers' underlying data against Sustainalytics' ESG dataset based on the metrics that apply to the fund's objectives, frequency, design, and format to satisfy investor and regulatory requirements.
"SS&C allocated $2.8 billion in capital to acquisitions. Most notably, SS&C acquired Advent Software, for $2.7 billion, SS&C's largest acquisition to date. Advent brings a talented workforce, over 4,200 loyal customers, and world-class products including Geneva, Black Diamond, APX, Axys, and Moxy. In addition to Advent, SS&C acquired Varden Technologies and Primatics Financial. Varden brings to SS&C a cloud-based enterprise reporting solution with an intuitive user interface. Primatics Financial enhances SS&C's loan servicing offering with Evolv, a sophisticated loan risk, and finance solution.
In October 2019, A U.K. made integration with SS&C's Black Diamond Wealth Platform. Black Diamond Wealth Platform now manages over $1 trillion in assets for more than 1,400 clients. More than 260 of those clients signed on in 2018 alone.
In April 2018 SS&C Technologies Holdings acquired DST Systems, a global strategic advisory, technology, and operations outsourcing company. The addition of DST's financial services and healthcare businesses provides SS&C with additional scale and breadth across institutional, alternative, wealth management, and healthcare segments.
In March 2018 SS&C Technologies Holdings acquired CACEIS North America, the fund administration business of CACEIS based in Toronto and New York. The acquisition, which is subject to customary closing conditions, is expected to close in the first quarter of 2018. CACEIS is known for its leading fund administration services and support for complex investment strategies. The acquisition added 65 employees, servicing more than $15.8 billion in investment fund assets."
SS&C Technologies Risks and Challenges
SS&C Technologies business could be s greatly affected by changes in the state of the general economy and the financial markets, and uncertainty in the general economy, the financial services industry, or other industries in which our clients operate could disproportionately affect the demand for our products and services.
SS&C Technologies doesn't have control over certain businesses in which the company has significant ownership.
Some of SS&C Technologies' joint venture investments are subject to buy-sell agreements, which could, among other things, restrict the company from selling its interests even if it was to determine it would be prudent to do so.
SS&C acquired Advent, another major financial services apps vendor, enabling the merged company to have a wide swath of banking, investment, and financial institutions as customers. The migration to a converged product strategy will take time and certain risks because of potential platform integration issues. Similarly, SS&C's migration to the Cloud could take some time given its roots in client-server computing. Integrating its different acquisitions will also take up much of its energy perhaps at the expense of articulating its Cloud strategy in the long run.
SS&C Technologies Ecosystem, Partners, Resellers and SI
In October 2021, SS&C Technologies extended its partnership with the Australian Catholic Superannuation and Retirement Fund (ACSRF). As part of the agreement, the superannuation fund has implemented a new mobile app for its members. SS&C Bluedoor's suite of digital solutions includes an app for the superannuation market to improve member accessibility. SS&C's 2020 Superannuation Survey found most super members prefer digital communications, including mobile tools. The mobile app is part of ACSRF's omnichannel engagement with members, enabling real-time access to super and pension information from their mobile devices.
In May 2020, SS&C ALPS partnered with FLX Distribution to provide expanded distribution capabilities to asset managers. Asset managers can access all of the job functions across a comprehensive distribution organization, reaching more than 300,000 financial advisors and 13,000 RIAs.
SS&C Technologies Cloud Infrastructure Insights
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Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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