This paper represents a major stage of data collection and reporting on an Australian Office for Learning and Teaching Innovation and Development grant investigating the adoption of ePortfolios for developing and assessing professional capabilities in Australian undergraduate business education. Assessing desired capabilities with and through ePortfolios does not have strong traction in business education courses and disciplines. The status of ePortfolio use in business education in the sector is profiled through the perspectives of academic business leaders. The reasons why ePortfolio use is limited are explored, along with the possible benefits through greater and more systematic use in the curriculum. Various technological, training and support implementation issues are highlighted. The framing of key elements of effective implementation are summarised at the end of the paper.