Information Systems capability can be viewed as one of the firm’s most valuable resources, and if controlled well, can contribute towards deriving value out of IT investment. For the purpose of the study IS capability is thus defined as the ability of an organization to deliver business value from investments in IT, continuously. To date, literature has not defined IS capability beyond an expression of enabling an organization to continuously derive and leverage business value through IS. Subsequently, this paper conceptualizes a framework towards IS capability in a South African firm. In this paper, IS capability, is seen as achieved through a sound IT governance, IT management, and corporate governance. In other words the study was about how governance and management of IS happens in a typical firm. This paper gives a holistic and insightful nature of IS capability at a typical South African firm through a qualitative case study. IS capability is understood through an interpretive research philosophy.