When almost anyone in business can answer what their value proposition is, not all of them will be able to answer what their value process is. The number will even vary of who can answer what their business process is. But it is necessary to know the ‘value processes’ of the proposed value based on which ‘business processes’ are derived. The ability to incorporate between the value processes and the business processes is one of the crucial factors that play for the companies very significant roles to be competitive in today’s challenging market. A number of research works can be found on value creation and value supply but none of them clearly explains the complex relationships between the value process and the business process or the importance of incorporation between these two in e-business modelling. In this paper we clearly define the value process and the business process and show the depth of relationships and the importance of relationships between them in e-business modelling with an illustration.