Services computing plays a vital role in the field of information technology and enables users to perform web and cloud services in more efficient and effective manner. In the life cycle of services computing, phases such as service discovery, composition, and delivery of services and managing services as per the Service Level Agreements (SLA) have been received significant attention by the research community. Though web services and cloud services are two instances of services computing, their user communities significantly differ in various aspects, which include service specification, consumption, and adherence to service agreements. This paper approaches services computing from the perspective of two architectural paradigms namely Service-oriented Architecture (SOA) and Cloud computing. The existing research attempts performed in the phases of service discovery, composition and provisioning of services as per the SLA has been extensively reviewed from the perspective of SOA and Cloud. Based on the literature review, a number of research issues are also summarized towards achieving service excellence further. At the end, the paper emphasizes the need for service-oriented broker to enhance the discovery and provisioning process of cloud services. © 2020 University of Bahrain. All rights reserved.