Virtualisation is gaining more and more relevance with digital transformation and, more recently, driven by the COVID-19 pandemic, becoming more present and ubiquitous. This work conducts a systematic literature review added via backward snowballing to summarise existing knowledge on Process Virtualisation Theory (PVT) and proposes directions for research. The study used scientific databases and indexers, considering the last 18 years until the end of 2023. Our objectives are summarised in an investigation framework that understands PVT usage, application areas, constructs, and related theories. The results indicate an evolution of PVT research from a theoretical approach until 2013 to a majorly empirical approach nowadays, with several interfaces with other theories. Furthermore, we identified 20 application areas and the most applied constructs. Altogether, we provide an up-to-date overview of theoretical insights into PVT that expand the existing knowledge base in the IS field and a valuable approach for future digital transformation initiatives.