I'd like to upgrade my lenovo y70 touch laptop?

It has intel 4720hq processor, 16gb ram, and dual gpu configuration intel hd 4600 and nvidia 960m. How would I go about replacing parts in my system?

It is a laptop. There's little to nothing that can be upgraded since most of it is built in to the motherboard and soldered in. You probably have maxed out the RAM for it already. You may be able to swap the hard drive for a larger or faster one. But you would need another computer to mirror the old drive onto the new one. Not much else you can do for it.

In a laptop you can usually only upgrade the ram and the hard drive, and you probably have the maximum amount of ram.