Software development is a complex socio-technical activity, with the result that software development organisations need to establish and maintain robust software development processes. While much debate exists regarding the effectiveness of various software development approaches, no single approach is perfectly suited to all settings and no setting is unchanging. The capability to adapt the software process is therefore essential to sustaining an optimal software process. We designed an exploratory study to concurrently examine software process adaptive capability and organisational performance in 15 software development organisations, finding that companies with greater software process adaptive capability are shown to also experience greater business success. While our exploratory study of the complex relationship between these phenomena is limited in some respects, the findings indicate that software process adaptive capability may be worthy of further integration into software process engineering techniques. Software process adaptive capability may be an important organisational strength when deriving competitive advantage, and those responsible for the creation and evolution of software process models and methodologies may want to focus some of their future efforts in this area.