However, Peach warned the channel to not get too caught up with "buzzwords that are floating around" the industry.
"I'd hesitate to resellers trying to make a very quick change in their business in order to go after then next big thing," he said.
7. Leverage a distributor to take cost out of business
Howard urges businesses to develop on their distie partnerships and use their sales skills, technology knowledge, pre- and post-sales support and marketing capabilities.
"Distributors can better scale their marketing capability as they work across the entire channel and often with multiple vendors. But from a reseller or vendor perspective, they should ensure that they partner with a good value-driven distributor," he said.
8. Use professional services to increase profitability
Howard claimed businesses should be selling solutions instead of point products to stand out from the crowd and have a unique value proposition.
"Increase the total value of your offering, beyond one product. You can't be a 'me too' supplier in a contracting market and still prosper," he said.
Howard signalled out proof of concepts, evaluations, installation work on behalf of the end-user, and taking level one support as some professional services examples that they can consider.
9. Enable a more mobile workforce and invest in talent
Peach said enabling a mobile workforce will allow staff to work from home and decrease a company's spend on facilities. Video conferencing and telepresence is a method businesses can utilise.
He also mentioned retaining and investing in talent as another avenue from which benefit can benefit.
"If you look after your best people or bring in good new talent and take care of them, they will stick to you through any storm that might come along or when competition is strong," he said. Additional reporting by Mike Gee and Patrick Budmar
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