Organizations have to continuously align their value propositions with changing market requirements. Business modeling is an established approach for capturing new business ideas that deliver value to customers. Business model frameworks are an instrument for structuring business models. However, existent frameworks disregard the process as central element of business models. Process-orientation in business modeling is potentially useful, since information from the business model may be seamlessly transformed to business operations. Furthermore, views of different organizational stakeholders may be naturally integrated in the process perspective. Hence, we propose the process-oriented business model framework Octoproz. We present its iterative development and apply Octoproz to a real-life scenario to exemplify and discuss its advantages and disadvantages. Results suggest that the application of Octoproz leads to a better understanding of the expected business process, more efficient project coordination, and improved alignment of stakeholder expectations.