New Zealand's Erakovic breezed to a 6-3, 6-4 victory over Swiss Stefanie Voegele in a match that was held over from Tuesday due to rain.
Erakovic will next face Romanian Edina Gallovits-Hall on the clay courts at the Centro de Alto Rendimiento in Bogota.
Meanwhile, the seventh-seeded Dominguez Lino -- who claimed last year's event with a finals triumph over Mathilde Johansson -- fell in 4-6, 6-2, 7-5 fashion to Colombian Mariana Duque-Marino.
Other seeded competitors who exited Wednesday included No. 3 Romina Oprandi of Switzerland, who fell 7-6 (7-5), 6-4 to Hungarian Timea Babos, and fourth-seeded Jelena Dokic of Australia, who was bested by Argentine qualifier Paula Ormaechea 4-6, 6-3, 6-4.
Babos will face Yaroslava Shvedova in the quarterfinals after the Kazakhstan native whipped Russian Valeria Savinykh 6-2, 6-2.