Equestrian Sports New Zealand chief executive Jim Ellis has every confidence in the team being successful.
"The quality of our team reflects a major improvement in New Zealand dressage standards over the last 18 months," he said. "Qualifying a team position would be a huge achievement for New Zealand, and looks to be a real possibility as we go into this all-important event."
But Ellis cautions it is a long way to go to London, as success in qualifying a team position is only part of the process.
Any combination who wishes to compete at the Olympics needs to meet tough selection standards, which are set by ESNZ and the New Zealand Olympic Committee.
ESNZ high performance director Sarah Harris reiterates Ellis' comments, but adds she is expecting great things from Way, who has been preparing for the event with top Australian dressage coach Clements Dierks.
"I am confident she can produce her best performance in Sydney," says Harris. "Louisa should also perform well but is still recovering from a broken hand, so her lead up has been less than ideal. I am sure the other two will post solid team marks."
Three of the four marks count towards the team total.
Unusually, the qualifier is being held in two parts - tomorrow at the Sydney International Equestrian Centre, and a week later (November 3) in Ermelo, the Netherlands, so the final result will not be known until after the European leg.
New Zealand and half of the Australian team will compete in Sydney, with South Africa and the remaining two riders for Australia going head to head in the Netherlands. The same judges are at each competition, including Stephen Clarke who will be president of the ground jury at next year's Olympics.
The two best-placed teams out of Australia, New Zealand and South Africa will qualify team positions for London.
Japan were a surprise late withdrawal from the qualifier.
If the bid is unsuccessful, there is an opportunity for New Zealand to qualify an individual position in April.