There are a lot mechanisms how to convert COBOL to modern scalable environments, such as .NET or Java.
The first is a migration to a new environment with saving the existing COBOL code with some minor modifications (NET Microfocus COBOL);
The second is a migration to a new platform with simulation of COBOL statements and constructions. When there are some additional NET/Java libraries to simulate some specific COBOL logic:
ACCEPT goes to NETLibrary.Accept and so on.
The third approach is the most valuable one, when you migrate to "pure" NET/Java code with all the benefits of the new environment. It can be easily maintained and developed in the future.
However, the unique expertise and toolkits are required for this approach, and there are only a few players on the global market that can help you in this case.
If we are talking about automatic migration, the number of players decreases greatly and, unfortunately for you, you have to pay for the specific technologies and tools (like ours).
However, it is a better idea to invest your money in your future growth in the modern environment, than to spend your money on the "simulation" of old technologies.