There has been a growing interest in how Business Process Management (BPM) initiatives can be used to improve competitive advantage of organizations. Discussion in the current literature is often centered on how operational efficiencies can be gained by the implementation of BPM initiatives. However, to fully realize the strategic opportunities made possible with BPM, it is necessary to take an approach that evaluates BPM not only on the financial aspects, but also on other intangible/ non-financial aspects. In this paper, we demonstrate how the balanced scorecard approach can be used for negotiating strategic business value of business process management initiatives to gain support from the various stakeholders.