This document summarizes key trends and directions for IT executives in 2008 according to a research firm called iReach. It finds that CIO priorities in 2008 will be improving support for business projects and reducing operational costs. Telecom costs will remain a priority and IP telephony/VoIP deployments are expected to double. Enterprise software licenses are expected to grow again and managed services and outsourcing will continue growing substantially over 2007 levels as companies seek improved IT support and cost savings.