This paper explores the role of business cases as a tool for supporting decision-making processes regarding water management. Based on an analysis of survey and interview data from 300+ organisations within the European food sector, it is concluded that the relative emphasis on business cases and payback times influences the average level of water management engagement. However, the findings from the analysis also indicate that use of business cases are not set in stone but can be adapted and changed through ongoing dialogue and negotiations. The paper contributes to the existing academic literature by moving beyond generic discussions of the business case for corporate sustainability to exploring the concrete use of business cases as a decision-making tool for managers.