07:21 AM EDT, 04/03/2025 (MT Newswires) -- Accenture ( ACN ) , Booz Allen Hamilton ( BAH ) and IBM ( IBM ) , along with the other largest consulting firms working with the US federal government have offered billions of dollars in potential savings from their contracts, The Wall Street Journal reported late Wednesday.

The 10 largest US consulting firms to the federal government met the General Services Administration's deadline this week to justify their contracts and identify potential cost cuts to existing projects, the report said. However, the Trump administration is expected to ask for more cost-saving measures, according to unnamed people familiar with the matter.

Some of the firms submitted proposals that had too little savings, while others offered detailed savings proposals, with at least one company outlining $12 billion in potential savings to the government, the media outlet reported.

Booz Allen's CEO Horacio Rozanski proposed more than $1 billion in savings related to its projects and suggested shifting more contracts to performance-based arrangements, as well as streamlining government functions, the Journal said.

Meanwhile, the federal agencies overseeing the contracts will now review and compare the proposals against their rivals, the report added.

Accenture ( ACN ), IBM ( IBM ), Booz Allen Hamilton ( BAH ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)