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Information systems and technologies have an influence on every aspect of companies’ firm performance. Extensive studies have been conducted to determine the relationships between information system (IS) capabilities and firm performance. This study investigates and explores an extensive literature review to discover inconsistencies among past studies. The role of the resource-based view (RBV) is also examined on the subject. Assessing the relationship between these two concepts will shed highlight new research perspectives. The review will find out whether or not additional empirical investigation is necessary to gain a clearer understanding of IS capabilities and firm performance.