Chapter Article in Contemporary Issues In Business And Economics: Volume-1
ROLE OF FINANCE IN BUSINESS MODERNIZATION DURING COVID-19
Sunita,
Assistant Professor, University College of Commerce and Management, Guru Kashi University
Pardeep Kaur,
Assistant Professor, University College of Commerce and Management, Guru Kashi University
- ISBN: 978-1-387-65048-4
- DOI: 10.25215/1387734229.13
The recent changes in economy due to COVID-19 have a pre-eminent impact on the business models and their refinement which leads to exigency of extra funds to make businesses compatible in high on nerves situation of pandemic. The dominant trend primarily talks about the modernization of businesses such as Cloud–based Infrastructure and Software-as-a Service (SaaS), Robotic Process Automation (RPA) and Machine Learning and Artificial Intelligence with respect to financial requirements. Previous studies unable to disentangle the other economic changes and COVID-19’s impact on arrangement of finance. Both primary as well as secondary data was used to study the role of finance in business modernization during COVID-19. As the role of finance changed due to significant impact of pandemic. The current study is focusing upon role of finance in sustainable development, need of fresh investment for business modernization, impact of COVID-19 pandemic and survival of businesses whether of small scale or large scale and need of finance for technological structure as well as organizational structure.