The Covid-19 Pandemic accelerated the digital transformation that was already underway, and not only changed the way of working, but also the way companies see cloud computing as a solution for remote work, reducing costs, having flexibility and mobility. The IT services industry, mainly in the implementation of cloud infrastructure, had to adapt to this new reality, as well as deal with the lack of skilled labor, not only in the Brazilian market, but also in the world market. This new context has brought opportunities and challenges to companies. Innovation has become increasingly important for companies to be able to reorganize and adapt to this scenario, in order to meet the new demands that the market imposes and generate a competitive advantage. This work aims to carry out a case study, applying an integrative theoretical model, in a small to medium-sized company (up to 20 million annual revenue), which operates in the IT services market, more specifically in implementation services. of cloud infrastructure. External factors were analyzed - environment where the company is located and the structure of the industry - and internal factors - resources, strategic alliances and capabilities - combine and interfere in innovation and performance, to achieve sustainable competitive advantage. An important practical implication is that this integrative theoretical model can be applied in other IT service companies, of different sizes from the company studied.