Findings: The level of IMS positively influences process and product IC. Moreover, external cooperation, and using it a high extent not only positively moderate the effects of the level of IMS over process IC, but also of process over product IC, where it becomes indispensable for its effect to be positive. Finally, investing in external knowledge is a positive moderator of the effects of the level of IMS over both: process and product IC.Originality / Value: This is one the first studies on empirically finding evidence of the impact of the level of IMS on process and product IC, and of the moderating effect of performing OI activities in order to achieve higher process and product IC through the IMS.