The study aims to measure the effect of using balanced scorecard (BSC); with its different perspectives on reducing production costs in the Jordanian industrial companies. The study depends on the questionnaire which was addressed to the financial managers, accounting department heads, managerial and costs accountants. The study sample contained (171) employees working in the Jordanian industrial companies. It used the descriptive, analytical, and also the regression analysis methods. The study results showed a significant effect of using the following BSC perspectives (financial perspective, customers' perspective, internal processes perspective, and learning and growth perspective) on reducing production costs in the Jordanian industrial companies. The study recommended that industrial companies should keep paces with the rapid changes taking place in the manufacturing environment, and continuously encourage those companies to innovate their employees.