ERP is no more considered as an enabler, but as providing support to the business processes. Mid and small sized enterprises have currently initiated replacement strategy. ERP software market has evolved over the last 15 years. The vendor-product maturity has reached extended enterprise capabilities and integrated decision support and value added business performance capabilities. Given the productivity focus within the Industry, ERP solutions are considered as essential transaction support system that takes care of routine processing requirements. The ERP software traditionally failed to address niche requirements like oil accounting, logistics & transportation. The industry practices using ERP and custom solution for managing transactions, while ERP focus on financials, HR, purchase, inventory. Assets and maintenance requirements of the industry has significant demands to drive niche market solutions. The integration requirements, knowledge management surrounding assets and the intense requirements underplays standard ERP maintenance capability. However, leading ERP vendors have designed EAM as integrated solution capability.