The largest consulting firms working with the U.S. federal government have pledged to reduce billions of dollars from their contracts in an effort to support cost-cutting initiatives — but the Trump administration is pressing for even greater savings, The Wall Street Journal reported on Wednesday.

Major firms such as Accenture (NYSE:ACN), Booz Allen Hamilton (NYSE:BAH), Deloitte, IBM (NYSE:IBM) and others met a General Services Administration deadline this week to justify their existing federal contracts and highlight areas where costs could be reduced. However, sources familiar with the process say officials from the Trump administration are expected to request deeper reductions and possibly renegotiate some terms, the Journal reported.

While some firms provided extensive documentation without identifying enough concrete savings, others outlined substantial cost-cutting opportunities. One firm reportedly proposed as much as $12 billion in potential savings for the government.

Booz Allen Hamilton (NYSE:BAH), which earns nearly all of its $11 billion in yearly revenue from federal work, suggested over $1 billion in potential savings. Chief Executive Horacio Rozanski said the company flagged contracts that could be reviewed or canceled and offered multiple recommendations to improve government operations. Among their suggestions were transitioning more contracts to performance-based pricing and considering government in-sourcing for certain tasks to boost efficiency.

Leidos (NYSE:LDOS), another prominent federal contractor, also submitted a set of detailed proposals aimed at improving government efficiency, according to a company spokesperson, though specific savings figures were not disclosed.

Accenture and IBM declined to comment, while Deloitte didn't respond to inquiries by the Journal.

The administration’s review comes as part of a broader effort to curb federal spending, launched earlier this year. Officials requested that the top 10 federal consulting providers justify their roles and expenses. These firms are expected to collect more than $65 billion in fees through 2025 and beyond.

The initiative has hurt investor confidence, with shares of Booz Allen (BAH) and Accenture (NYSE:ACN) falling around 40% and 12% respectively since Trump’s election. Leidos (NYSE:LDOS) shares are down about 30% in the same period. In contrast, the broader Standard & Poor's 500 index (SP500) has declined about 5%.

Federal agencies overseeing the contracts will now assess the firms’ proposals, and the GSA has indicated it will compare each firm's submission to those of its competitors.

Many contractors are already experiencing the effects of the administration’s spending clampdown. Accenture (ACN) Chief Executive Julie Sweet said last week that the tightening of procurement processes has slowed down new federal business, leading to negative impacts on revenue and sales, the Journal reported.