An IoT platform is what helps companies to establish their own technology infrastructure so they can start creating their own smart solutions that promotes their products and services. An ideal IoT platform will assimilate with a bunch of connected devices and will easily integrate with device applications. It will allow the implementation of IoT functions and features into any device, once it is connected. In this event, we will discuss the components and architecture of an IoT platform, in addition to explaining what business benefits a company can extract with its implementation.